Posted on

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.

One thought on “XRPUSD (Ripple) 4hr tf analysis

  1. […] My previous post on XRPUSD (Ripple) can be found here: […]

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.