XRPLong
XRP Crashing Structure and Elliot Waves
Updated
XRPUSD has confirmed an ABC crash correction. Following will be a 5 wave to over two dollars to catch up to the market. We have serious resistance at 30.5 cents, where you can see multiple touch points that have acted as BOTH Support & Resistance. Once we start trading above this, we should see some aggressive upside moves.
Note
We are seeing more sideways uncertainty price action right now. I am unsure if we need an SEC news catalyst to initiate some upward movement, or if the market speculators will act despite any new SEC news coming out, be that up or down. I do know major institutional investors may steer away from XRP unless we get some more clarity from regulators. It is my opinion that the SEC is doing their home country a disservice and creating chaos in the market. I think any prices lower than this is a steal for LONGS. I will be adding more XRP if we get a BTC price crash, pushing alts down. ETH just made ATH, so this is a promising thing for all alts, including XRP.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.