Elliott Wave Analysis TradingLounge Daily Chart.
XRP/ U.S. dollar(XRPUSD).
XRP/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Triangle.
Position: Wave E.
Direction next higher degrees: Wave 4 of Impulse.
Wave cancel invalid level: 0.486.
Details: The Moved in Triangle Before Increase again
XRP/U.S. dollar(XRPUSD)Trading Strategy:
Triangle correction, where we are in the final phase of the correction in Wave E. Once Wave E is complete, the price will return to the uptrend again.
XRP/ U.S. dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge 2H Chart,
XRP/ U.S. dollar(XRPUSD).
XRP/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave 4.
Direction next higher degrees: Wave C of Zigzag.
Wave Cancel invalid level:
Details: A short-term pullback in wave 4 before falling again in wave 5.
XRP/ U.S. dollar(XRPUSD)Trading Strategy:
Decreasing in an impulse pattern where we are in a short pullback in wave 4 before falling again in wave 5 to complete wave C and after which the price re-enters the uptrend.
XRP/ U.S. dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.
Technical analyst: Kittiampon Somboonsod
XRP/USD Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
XRP struggles near $0.7440, could still sustain rally after Robinhood listing
Ripple's XRP is trading near $0.6900, down nearly 3% on Wednesday, as declining open interest could extend its price correction. However, other on-chain metrics point to a long-term bullish setup.
Dogecoin price forecast: Miners offload $240M as DOGE approaches risk zone
Since Donald Trump’s victory on November 5, Dogecoin has emerged as the best performing asset among the top 10 ranked cryptocurrencies. On November 12, DOGE reached a new milestone price propelled by Trump’s statement confirming Elon Musk’s involvement in the incoming administration.
Ethereum Price Forecast: ETH's declining supply could fuel bullish pressure toward $3,732
Ethereum is trading near $3,220, down 2.5% on Wednesday after its supply began trending downward. The declining supply could fuel bullish pressure for the top altcoin, especially as institutional demand for ETH ETFs is also rising.
PEPE hits new all-time high, rallies nearly 50% following Robinhood and Coinbase listing
PEPE rallied over 50% on Wednesday and hit a new all-time high after crypto exchanges Robinhood and Coinbase announced they would list the meme coin on their respective trading platforms.
Bitcoin: Further upside likely after hitting new all-time high
Bitcoin hit a fresh high of $76,849 on Thursday as crypto-friendly candidate Donald Trump won the US presidential election. Institutional demand returned with the highest single-day inflow on Thursday since the ETFs’ launch in January.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.