Elliott Wave Analysis TradingLounge Daily Chart, XRP/ U.S. dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis

XRPUSD Daily Chart Analysis

• Function: Counter Trend
• Mode: Corrective
• Structure: Triangle
• Position: Wave E
• Direction Next higher Degrees: wave 4 of Impulse
• Wave Cancel invalid level: 0.486
• Details: The market moves within a triangle pattern before potentially resuming its uptrend.

XRP/ U.S. dollar(XRPUSD)Trading Strategy:

• Insights: Currently in the final phase of a triangle correction with Wave E. Upon completion, anticipate a return to the uptrend.

XRP/ U.S. dollar(XRPUSD)Technical Indicators:

• Price above MA200, signalling a Downtrend
• Bearish Momentum on the Wave Oscillator

XRP/ U.S. dollar(XRPUSD) Elliott Wave Analysis TradingLounge 2H Chart,

XRPUSD Elliott Wave Technical Analysis

XRPUSD 2-hour chart analysis

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 4
• Direction Next higher Degrees: wave C of Zigzag
• Wave Cancel invalid level:
• Details: Currently experiencing a short-term pullback in wave 4 before potentially declining further in wave 5.

XRP/ U.S. dollar(XRPUSD)Trading Strategy:

• Insights: Observing an impulse pattern with a short pullback in wave 4. Anticipate a continuation of the downtrend with wave 5, completing wave C, followed by a potential uptrend re-entry.

XRP/ U.S. dollar(XRPUSD)Technical Indicators:

• Price above MA200, indicating a Downtrend
• Bearish Momentum on the Wave Oscillator

Technical Analyst: Kittiampon Somboonsod

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See Previous: NEO / U.S. dollar(NEOUSD)

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