XRP - Just Getting Started... (WEEKLY VIEW)
XRP is approaching a key level where we may see the biggest wave (wave 3). We are currently in an ABC correction with the C wave possibly finishing at the double bottom region at 0.5.
Trade Idea:
- Watch for bounce at the end of C wave at the double bottom area (0.5)
- When bullish price action appears, enter with stops below the recent lows
- Target $1.90 as first target. Actively manage the rest. If this scenario is correct, we can see XRP soar to levels of $3 and higher!
Please see chart update for Daily Timeframe.
Please note that this is loosely based on Elliot wave theory and the extensions are not to scale. Will update this chart regularly once price action appears.
Goodluck!
Trade Idea:
- Watch for bounce at the end of C wave at the double bottom area (0.5)
- When bullish price action appears, enter with stops below the recent lows
- Target $1.90 as first target. Actively manage the rest. If this scenario is correct, we can see XRP soar to levels of $3 and higher!
Please see chart update for Daily Timeframe.
Please note that this is loosely based on Elliot wave theory and the extensions are not to scale. Will update this chart regularly once price action appears.
Goodluck!
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Daily
