Ripple, is that really You?! XRP/USD Elliott Wave Analysis 🚀
●● Main scenario
● 1D
XRPUSD
I propose to consider the following count: the primary wave ((5)) of "I" forms the Ending diagonal, inside which the current growth (at an early stage of its development) goes through the wave "A" of (3). Indicative targets for the third waves are indicated by the blue and green Fibo levels. The minimum goals for the intermediate wave (3) are to go beyond the local top (1), level 3.35.
● 4h
XRPUSD
Now we see a series of first waves in the composition of A of (3). The Last vertical growth, I believe, was "Third of a Third" (Powerful middle section within an impulse wave). Next, a series of fourth waves is expected, at the end of which a long position can be set. The current sideways correction most likely forms a Contracting Triangle without an overlap, which is acceptable with an Expanded Flat in the position of the second wave of the impulse.
●● Alternative scenario
● 1D
XRPUSD
The count with a deeper correction "II" looks less likely, but under certain conditions it can be implemented. For example, a quite good signal for this is the transformation of the wave ((B)) into a triangle. So far, however, it is not necessary to talk about this. If we consider the current growth as a correction, then at this stage of growth it can be in the form of a single zigzag or a double zigzag (W)-(X)-(Y).
● 4h
XRPUSD
The alternative count is aligned (has the same direction) with the main one for the near perspective, but it assumes a broader correction by the "B" of (Y) wave within the black-marked count.
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
● 1D
XRPUSDI propose to consider the following count: the primary wave ((5)) of "I" forms the Ending diagonal, inside which the current growth (at an early stage of its development) goes through the wave "A" of (3). Indicative targets for the third waves are indicated by the blue and green Fibo levels. The minimum goals for the intermediate wave (3) are to go beyond the local top (1), level 3.35.
● 4h
XRPUSDNow we see a series of first waves in the composition of A of (3). The Last vertical growth, I believe, was "Third of a Third" (Powerful middle section within an impulse wave). Next, a series of fourth waves is expected, at the end of which a long position can be set. The current sideways correction most likely forms a Contracting Triangle without an overlap, which is acceptable with an Expanded Flat in the position of the second wave of the impulse.
●● Alternative scenario
● 1D
XRPUSDThe count with a deeper correction "II" looks less likely, but under certain conditions it can be implemented. For example, a quite good signal for this is the transformation of the wave ((B)) into a triangle. So far, however, it is not necessary to talk about this. If we consider the current growth as a correction, then at this stage of growth it can be in the form of a single zigzag or a double zigzag (W)-(X)-(Y).
● 4h
XRPUSDThe alternative count is aligned (has the same direction) with the main one for the near perspective, but it assumes a broader correction by the "B" of (Y) wave within the black-marked count.
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
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