XRPUSD Elliott Wave Analysis TradingLounge Daily Chart
XRP/ U.S. Dollar (XRPUSD) Daily Chart Analysis
XRPUSD Elliott Wave Technical 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 price movement within the triangle pattern suggests a decline in Wave 5 after Wave E.
Ripple/ U.S. Dollar (XRPUSD) Trading Strategy:
- Decreasing Wave ((E)): This wave is the last in the triangle pattern, signaling the end of the current trend. The price is expected to return to an uptrend. Look for opportunities to join the uptrend.
Ripple/ U.S. Dollar (XRPUSD) Technical Indicators:
- MA200: The price is below the MA200, indicating a downtrend.
- Wave Oscillator: Shows bearish momentum.
XRPUSD Elliott Wave Analysis TradingLounge H4 Chart
XRP/ U.S. Dollar (XRPUSD) 4-hour Chart Analysis
XRPUSD Elliott Wave Technical 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 price movement within the triangle pattern suggests a decline in Wave 5 after Wave E.
Ripple/ U.S. Dollar (XRPUSD) Trading Strategy:
- Decreasing Wave ((E)): This wave is the last in the triangle pattern, signaling the end of the current trend. The price is expected to return to an uptrend. Look for opportunities to join the uptrend.
Ripple/ U.S. Dollar (XRPUSD) Technical Indicators:
- MA200: The price is below the MA200, indicating a downtrend.
- Wave Oscillator: Shows bearish momentum.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
See Previous: VeChain/ U.S. Dollar (VETUSD) Elliott Wave Technical Analysis
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