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Ripple /U.S.dollar(XRPUSD) Elliott Wave Technical Analysis 5 May 2023


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Elliott Wave Analysis TradingLounge Daily Chart, 5 May 2023,  

Ripple /U.S.dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave (Y)

Direction Next higher Degrees: Wave ((4)) of Motive

Wave Cancel invalid level: 0.43307

Details: Wave ((4)) has sufficient retracement. And a five-wave increase will confirm the end of the wave ((4)).

Ripple /U.S.dollar(XRPUSD)Trading Strategy: We expect wave 4 It's likely to be over. And the price is rising in wave 5, but even then, Mometum from RSI and MACD has no support. Trading must be done carefully during this time.

Ripple /U.S.dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend MACD and RSI are Bearish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

XRPday.thumb.png.6aa11a1a77236df2f067cfa7844a2fe3.png

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 5 May 23,  

Ripple /U.S.dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave (Y)

Direction Next higher Degrees: Wave ((4)) of Motive

Wave Cancel invalid level: 0.43307

Details: Wave ((4)) has sufficient retracement. And a five-wave increase will confirm the end of the wave ((4)).

Ripple /U.S.dollar(XRPUSD)Trading Strategy: We expect wave 4 It's likely to be over. And the price is rising in wave 5, but even then, Mometum from RSI and MACD has no support. Trading must be done carefully during this time.

Ripple /U.S.dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend MACD and RSI are Bearish Momentum.

XRPH4.thumb.png.950c74397a6faffec4146563cd03e425.png

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