XRP/USD (XRPUSD) Elliott Wave Analysis TradingLounge Daily Chart
XRPUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave IV
Next Higher Degree Direction: Wave (I)
Wave Invalid Level: (Specify as needed)
Details:
The retracement of Wave IV is nearing completion, indicating a likely upward movement in Wave V.
XRP/USD (XRPUSD) Trading Strategy
The corrective structure of Wave IV follows a Triangle pattern. The price is in the final declining phase of Wave E, which will complete the Triangle pattern. Traders are advised to wait for Wave E to finalize before rejoining the anticipated uptrend.
XRP/USD (XRPUSD) Technical Indicators
- Moving Average (MA200): The price remains above the MA200, confirming an uptrend.
- Wave Oscillator: Displays bullish momentum, supporting an upward bias.
XRP/USD (XRPUSD) Elliott Wave Analysis TradingLounge 4-Hour Chart
XRPUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave IV
Next Higher Degree Direction: Wave (I)
Wave Invalid Level: (Specify as needed)
Details:
Wave IV is in a retracement phase, setting the stage for an upward move into Wave V.
XRP/USD (XRPUSD) Trading Strategy
Wave IV’s corrective Triangle pattern is nearly complete, with Wave E currently in its final phase. Traders should monitor the completion of Wave E for opportunities to enter the next bullish trend.
XRP/USD (XRPUSD) Technical Indicators
- Moving Average (MA200): The price remains above the MA200, highlighting an ongoing uptrend.
- Wave Oscillator: Indicates bullish momentum, signaling potential upward continuation.
Technical Analyst: Kittiampon Somboonsod
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