Image Source: Elliott Wave Analysis TradingLounge Daily ChartXRP/ U.S. dollar(XRPUSD)XRPUSD Elliott Wave Technical Analysis Function: Counter TrendMode: CorrectiveStructure: Double CorrectivePosition: Wave ((Y))Direction Next higher Degrees: wave II of ImpulseWave Cancel invalid level:Details: Wave II is likely to be completed and the price will likely rise in wave III.XRP/ U.S. dollar(XRPUSD)Trading Strategy:
The correction in wave II seems to be over so we focus on the five-wave rally of wave III. The price action remains in an uptrend, and we are looking for a re-entry into the trend.XRP/ U.S. dollar(XRPUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge 4hr ChartXRP/ U.S. dollar(XRPUSD)XRPUSD Elliott Wave Technical Analysis Function: Counter TrendMode: CorrectiveStructure: Double CorrectivePosition: Wave ((Y))Direction Next higher Degrees: wave II of ImpulseWave Cancel invalid level:Details: Wave II is likely to be completed and the price will likely rise in wave III.XRP/ U.S. dollar(XRPUSD)Trading Strategy:
The correction in wave II seems to be over so we focus on the five-wave rally of wave III. The price action remains in an uptrend, and we are looking for a re-entry into the trend.XRP/ U.S. dollar(XRPUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend., The Wave Oscillator is a Bearish Momentum.Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.comMore By This Author:
Elliott Wave Technical Analysis: XRP Crypto Price News For Thursday, Oct 31
