Elliott Wave Analysis TradingLounge Daily Chart.
XRP/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave III.
Direction Next higher Degrees: wave I of Impulse.
Details: the five-wave Increase of wave III.
XRP/ U.S. dollar (XRPUSD) trading strategy: Overall, the correction seems to be coming to an end. Look for an opportunity to join the uptrend from a short-term correction within.
XRP/ U.S. dollar (XRPUSD) technical indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.
Elliott Wave analysis four-hour chart
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave III.
Direction next higher degrees: Wave I of Impulse.
Details: the five-wave Increase of wave III.
XRP/ U.S. dollar (XRPUSD) trading strategy: ChainLink overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend.
XRP/ U.S. dollar (XRPUSD) technical indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.
XRP 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
Ethereum suffers declining investor interest following historical August market lull
Ethereum is down nearly 3% on Monday following a decrease in key metrics, including institutional interest, trading volume and transaction count. The decline is also evident in ETH's price, which has failed to overcome a key price resistance.
SUI, Worldcoin lead tokens with highest yearly supply increase
Token Unlocks data on Monday revealed that several tokens have witnessed high increases in their supply in the past month and over the last year. The statistics also show the number of days to a 25% supply for each of these tokens, with ZETA and TIA at the top of the list.
AI tokens post huge weekly gains in anticipation of Nvidia's Q2 earnings
Several AI tokens lead the crypto market with heavy gains following a 60% rise in FET. Nvidia's earnings are considered an indicator of the global health of the Artificial Intelligence sector. Analysts expect a Q2 revenue of $28.7 billion and earnings per share of $0.65.
Crypto ETFs record $533 million of net inflows as possibility of rate cut boosts investor confidence
Crypto ETFs recorded the highest inflows in five weeks after Jerome Powell hinted at the possibility of the Federal Reserve’s cutting interest rates in September during his speech at the Jackson Hole Symposium. Meanwhile, the altcoin investment market witnessed little or no inflows.
Bitcoin: Can BTC break above $62,000 barrier?
Bitcoin (BTC) trades above $60,000 on Friday, gaining more than 4% this week so far, but fluctuating within a range between $57,000 and $62,000 for the last 15 days. On-chain data shows contradicting signs, with institutions accumulating Bitcoin while some whales are selling. Additionally, the US spot Bitcoin ETFs recorded inflows this week, and continued Mt.Gox fund movements could bring volatility in Bitcoin's price in the coming days.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.