XRP/ U.S. Dollar (XRPUSD) Elliott Wave Analysis – TradingLounge Daily Chart
XRPUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave ((B))
Next Higher Degree Direction: Wave IV
Wave Cancellation Level: Not specified
Analysis Details:
The XRPUSD price structure indicates a continuing downward correction within Corrective Wave (B). There is still room for further downside movement before potential stabilization, suggesting traders should monitor key support levels.
XRP/ U.S. Dollar (XRPUSD) Trading Strategy
XRP has completed Wave (I) and is now in a bearish correction phase (Wave (II)). Before transitioning into the final corrective leg (Wave C), a short-term recovery (Wave B up) may occur. The projected key support level for Wave C is 1.533 USD.
Trading Strategy
Long Strategy
✅ Entry: Buy when price retraces to a key support level
- If XRP tests the $1.533 support zone and buying pressure strengthens, a long entry may be considered.
- Target Profit Range: Between 2.50 - 3.38 USD
Risk Management:
- If XRP drops below 1.533 USD, traders should reassess their positions and apply risk mitigation strategies.
XRP/ U.S. Dollar (XRPUSD) Elliott Wave Analysis – TradingLounge H4 Chart
XRPUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave ((B))
Next Higher Degree Direction: Wave IV
Wave Cancellation Level: Not specified
Analysis Details:
The XRPUSD market remains in a corrective phase within Wave (B), indicating further downside potential before a trend reversal takes place. Traders should watch for key support confirmations before making trading decisions.
XRP/ U.S. Dollar (XRPUSD) Trading Strategy
XRP has completed Wave (I) and is undergoing a corrective decline in Wave (II). A temporary rebound (Wave B up) may precede the final Wave C leg, where the 1.533 USD level serves as a critical support zone.
Trading Strategy
Long Strategy
✅ Entry: Buy when price retraces to a key support level
- If XRP reaches the $1.533 support and buying momentum returns, traders may consider a long position.
- Target Profit Range: Between 2.50 - 3.38 USD
Risk Management:
- If the price falls below 1.533 USD, traders should reassess their positions to avoid potential losses.
Technical Analyst: Kittiampon Somboonsod, CEWA
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