XRPUSD Elliott Wave Analysis - TradingLounge Daily Chart
XRP/USD (XRPUSD) Daily Chart Analysis
XRPUSD Elliott Wave Technical Analysis
Function: Trend Following
Mode: Motive
Structure: Impulse
Position: Wave III
Next Higher Degree Direction: Wave I of Impulse
Wave Invalid Level: N/A
Details: The current five-wave progression indicates the continuation of Wave III.
XRP/USD (XRPUSD) Trading Strategy
The ongoing correction phase seems to be nearing its completion. Traders should look for opportunities to enter the uptrend during this short-term correction.
XRP/USD (XRPUSD) Technical Indicators:
- The price remains below the MA200, indicating a prevailing downtrend.
- The Wave Oscillator shows bearish momentum.
XRPUSD Elliott Wave Analysis - TradingLounge 4-Hour Chart
XRP/USD (XRPUSD) 4-Hour Chart Analysis
XRPUSD Elliott Wave Technical Analysis
Function: Trend Following
Mode: Motive
Structure: Impulse
Position: Wave III
Next Higher Degree Direction: Wave I of Impulse
Wave Invalid Level: N/A
Details: The five-wave pattern within Wave III suggests further upward movement.
XRP/USD (XRPUSD) Trading Strategy
ChainLink remains in a corrective phase. Currently, it is positioned in Wave (II), which exhibits a double corrective pattern. A short-term pullback is anticipated before the uptrend resumes in Wave (III). Traders should wait for the correction to conclude before rejoining the upward trend.
XRP/USD (XRPUSD) Technical Indicators:
- The price is below the MA200, signifying a continued downtrend.
- The Wave Oscillator reflects bearish momentum.
Technical Analyst: Kittiampon Somboonsod
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See Previous: ChainLink (LINKUSD) Elliott Wave Technical Analysis
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