11Feb

XRP Elliott Wave Technical Analysis: Key Support & Resistance Levels, and Trading Strategy for Maximum Profit in the Crypto Market!

XRPUSD Elliott Wave Analysis – TradingLounge Day Chart

XRP/USD (XRPUSD) Day Chart Analysis

XRPUSD Elliott Wave Technical Analysis

  • Function: Counter Trend
  • Mode: Corrective
  • Structure: Flat
  • Position: Wave ((B))
  • Direction Next Higher Degrees: Wave IV
  • Wave Cancellation Invalid Level: Not specified

XRP/USD (XRPUSD) Trading Strategy

XRP is currently in a Wave II correction following the completion of Wave I. The ABC Flat correction suggests a potential decline to the Key Support Level at 1.62364 USD. A price reversal from this level could signal the start of Wave III, marking a potential bullish trend.

XRPUSD Trading Strategies

Buy Strategy (Long Position):

  • Look for a reversal signal when the price reaches the 1.62364 - 1.53700 USD range.

Risk Management:

  • If the price breaks below the 1.53700 USD support level, traders may need to reassess for a new lower support level.

XRPUSD-1D-Crypto-Cha...


XRPUSD Elliott Wave Analysis – TradingLounge 4H Chart

XRP/USD (XRPUSD) 4-Hour Chart Analysis

XRPUSD Elliott Wave Technical Analysis

  • Function: Counter Trend
  • Mode: Corrective
  • Structure: Flat
  • Position: Wave ((B))
  • Direction Next Higher Degrees: Wave IV
  • Wave Cancellation Invalid Level: Not specified

XRP/USD (XRPUSD) Trading Strategy

XRP remains in a Wave II correction following the end of Wave I. The ongoing ABC Flat correction is projected to drop towards the Key Support Level of 1.62364 USD. A price reversal from this level could indicate the beginning of Wave III, leading to a potential bullish movement.

XRPUSD Trading Strategies

Buy Strategy (Long Position):

  • Wait for a reversal signal when the price approaches 1.62364 - 1.53700 USD.

Risk Management:

  • If the price falls below 1.53700 USD, traders should consider a new lower support level.

Technical Analyst: Kittiampon Somboonsod

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: XRPUSD Elliott Wave Technical Analysis

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