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XRPUSD (Ripple) 4hr tf analysis

Price swing from ~$1.08 (March 5,2018) to ~$0.55 on March 18, 2018 has been identified in this analysis as a minor wave 3. Minute wave ((y)) is currently on and its termination marks the end of minor wave 4.

Minor wave 4 is shaping up so far as a zigzag (5-3-5) Elliott wave structure.

awwww ripple

A 38.2% retracement to 50% retracement (i.e. ~$0.75 and ~$0.82 respectively) of minor wave 3 is expected to offer resistance and terminate minor wave 4. Projections for minute wave ((y)) include 100% wave ((w)), and 161.8% wave ((w)). These termination points are $0.73 and $0.83 respectively, and therefore increase the chances of XRPUSD terminating between 38.2% retracement to 50% retracement.

P.S. The use of “price swing” is used to indicate the direction of the trend (i.e. bearish in this case). Price swing does not imply an actionary or reactionary wave.

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