The Ripple XRPBTC cryptocurrency made a nice correction of three waves back to the level of the previous wave four of a lesser degree with (a) = (c) equal legs and a stroke of exactly 1.61 level (in line with previous expectations). This is really a perfect configuration in the Elliott wave theory and exactly what we are looking for in trading setups. Currently, cryptotraders must wait for confirmation of the lows, which will come with a break of the channel's resistance line (around 2.40) and make sure the price will make a break above 2.80, (impulsive up trend resumption level) which would confirm that Ripple is returning to an up trend.
If Ripple goes below 1.60 for any reason, a new wave scenario will be needed.
If Ripple goes below 1.60 for any reason, a new wave scenario will be needed.
Trade active
A marginal new low was made, but nevermind this: #XRP is going higher after Brad Garlinghouse tweet, that #XRP will be used in MoneyGram payment flows! Up up up we go!Trade active
Price hit the channel upper line, but no new low was made yet. Still unfold nicely, but needs to break out of the channel. Patience.Trade active
Let's break out the channel, shall we? 2.25 is the key level.
Note
Correction done? Note
At the 61% Fibo support at 1.19. We will see how it goes. Correction continues.Note
XRPUSD has completed the complex and time consuming corrective cycle in wave (4). Possible rally ahead. RIPPLE # XRPUSD Trade active
The thick green line must hold, otherwise, the impulsive cycle is invalidated. The correction is too big in time nad price already anyway.Details on H4 chart:
Note
Ripple broke above the golden trend line and is heading towards the level of 1.0000 and then 1.3890. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.