XRPUSD Elliott Wave Technical Analysis May 05 2023
4Hour
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
Daily
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
