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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