Greetings, here's an Elliott Wave Count for the current price action of XRP.
We assumed we bottomed on the 3rd August and started a new impulse to the upside in the white 5 wave move of which we have finished Wave 1 and 2 and are working or have finished Wave 3.
We would prefer if the white Wave 3 goes a bit higher and hits at least it's 1.382 FIB target at 3.4287 USD or even better the 1.618 FIB at 3.5182 before we see white Wave 4.
We already added a provisional white Wave 4 support which sits between the 0.236 FIB at 3.2690 USD and the 0.5 FIB at 3.1420 USD. Going lower to the 0.618 FIB at 3.0852 USD would be a warning sign that we are not in this impulse.
Be aware the white Wave 4 support area move higher as the price climbs higher.
After we get white Wave 3 and 4 in we will be looking for white Wave 5 which should take us to new all time highs.
Thanks for reading.
NO FINANCIAL ADVICE.
We assumed we bottomed on the 3rd August and started a new impulse to the upside in the white 5 wave move of which we have finished Wave 1 and 2 and are working or have finished Wave 3.
We would prefer if the white Wave 3 goes a bit higher and hits at least it's 1.382 FIB target at 3.4287 USD or even better the 1.618 FIB at 3.5182 before we see white Wave 4.
We already added a provisional white Wave 4 support which sits between the 0.236 FIB at 3.2690 USD and the 0.5 FIB at 3.1420 USD. Going lower to the 0.618 FIB at 3.0852 USD would be a warning sign that we are not in this impulse.
Be aware the white Wave 4 support area move higher as the price climbs higher.
After we get white Wave 3 and 4 in we will be looking for white Wave 5 which should take us to new all time highs.
Thanks for reading.
NO FINANCIAL ADVICE.
Trade active
We have entered the Wave 4 support area.
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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.
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.