Elliott waves crypto analysis – Currently in a correction mode

XRP –

Wave Analysis

After the bearish gap seen few days ago, rippled recovered slightly to the upperside but is still below the immediate trendline. As long as the price is below the immediate upper trendline and below 0.3165, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the unfolding of another impulsive wave count and should break below 0.2515, however, should the price bounce from 0.2515, then this will be a good place to look for a long term short position with an ultimate target at 0.2012.

Trade Recommendations:

Currently in a correction mode

101% Double the volume

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