XRPUSD Elliott Wave Analysis TradingLounge Day Chart

XRP/ U.S. Dollar (XRPUSD) Day Chart Analysis

XRPUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next Higher Degrees: Wave III of Impulse

Wave Cancel Invalid Level:

Details: Observing a five-wave rise in Wave III.

XRP/ U.S. Dollar (XRPUSD) Trading Strategy

The correction phase in Wave II appears complete. Attention shifts to the five-wave rally within Wave III. Price action maintains an uptrend, signaling potential opportunities for re-entry into the trend.

XRP/ U.S. Dollar (XRPUSD) Technical Indicators

• The price holds above the MA200, confirming the continuation of the uptrend.

• The Wave Oscillator exhibits strong bullish momentum.

XRP/ U.S. Dollar (XRPUSD) 4-Hour Chart

XRPUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next Higher Degrees: Wave III of Impulse

Wave Cancel Invalid Level:

Details: A clear five-wave structure is forming within Wave III.

XRP/ U.S. Dollar (XRPUSD) Trading Strategy

Wave II's correction seems to have concluded, placing the focus on the developing five-wave rally of Wave III. The trend remains bullish, presenting opportunities to re-enter.

XRP/ U.S. Dollar (XRPUSD) Technical Indicators

• Price action stays above MA200, reinforcing the uptrend.

• The Wave Oscillator indicates bullish momentum, supporting the positive trend.

Technical Analyst: Malik Awais

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