XRP RIPPLE ELLIOTT WAVE ANALYSIS - 20.09.2021
- Currently the price seems to be pulling back in wave 3 of C of 2.
- expecting the price to retrace till the daily demand zone (Equilibrium at 0.80).
- other potential reversal points:
1. 0.618 length of wave A - 0.8575
2. equal length of wave A - 0.7371
3. 0.618 retracement of wave 1 - 0.7522
- move below 0.5090 will invalidate this count.
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THIS IS MY ANALYSIS, PLEASE TRADE AT YOUR OWN RISK.
- expecting the price to retrace till the daily demand zone (Equilibrium at 0.80).
- other potential reversal points:
1. 0.618 length of wave A - 0.8575
2. equal length of wave A - 0.7371
3. 0.618 retracement of wave 1 - 0.7522
- move below 0.5090 will invalidate this count.
Please share and leave a like if you found this analysis useful :)
THIS IS MY ANALYSIS, PLEASE TRADE AT YOUR OWN RISK.
"Currently the price seems to be pulling back in wave 3 of 1 of C of 2."
update:
- the downside pressure/ weakness in price still continues
- price seems to be retracing for wave 4 of 1 of c of 2 for now.
- the above targets are based on logarithmic scale.
- on the linear scale, the downside target is between 0.70 - 0.64 range.
- wave c will be equal to wave at 0.6325 on linear scale.
- invalidation level remains the same at 0.5090.