We can see XRP has completed it's first 5 wave impulse and corrective wave thus completing a EW cycle. This appears to be the first impulsive wave of a larger wave.
When XRP moves, we usually see large and aggressive buying and it seems we might have started one of the new cycles.
Targets of wave 3 are 1.618x the length of wave 1, or 2.618x the length of wave 1 (source: Mastering elliot wave principle)
This would mean our first target would be around 0,58-0,60 USD and our second target would be around 0.79 USD
We can see that both these targets also have confluent resistance which confirms them (please revise updates below for this)
Please look at all the confluence in support/resistance I have found in the updates below aswell which complements the analysis.
If you have profited from my idea, feel free to deposit a small tip:
BTC address: 14P3xUfNDtyBFMPFBgCdRjHx51Kd9CjSiG
XRP address: rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh
XRP tag: 104476243
When XRP moves, we usually see large and aggressive buying and it seems we might have started one of the new cycles.
Targets of wave 3 are 1.618x the length of wave 1, or 2.618x the length of wave 1 (source: Mastering elliot wave principle)
This would mean our first target would be around 0,58-0,60 USD and our second target would be around 0.79 USD
We can see that both these targets also have confluent resistance which confirms them (please revise updates below for this)
Please look at all the confluence in support/resistance I have found in the updates below aswell which complements the analysis.
If you have profited from my idea, feel free to deposit a small tip:
BTC address: 14P3xUfNDtyBFMPFBgCdRjHx51Kd9CjSiG
XRP address: rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh
XRP tag: 104476243
Note
The targets as per above Target 1: 0,58 - 0,60 USD which shows confluence with a daily bearish orderblock
Target 2: 0,78-0,79 USD which also shows confluence with previous wick
Note
XRP/USD succesfull resistance to support flip, daily and 4h show great strength here
Note
XRP/BTC succesfull resistance to support flipNote
XRP/USDT weekly bollinger band was squeezed really hard and appears to be breaking out now, could cause big volatility Note
Alternate (bearish) scenarioWe haven't finished correction yet and we will make 1 more leg down, in this case we would probably close below the supportlevel on the daily which would be very bearish. We don't want to see the price fall below the low of 0.393. If that would happen, this whole move could have been a fake out.
Trade active
Correction wave looks complete, your chance to buy in now (or wait for breaking of falling wedge) We bounced on a daily orderblock and also found support of the 0.618 fib (will post below)
Note
so far so good Trade active
as shown above, correction looked done by completing the ABC correction with a 2nd 5 wave impulse. Falling wedge has broken after finding support on the daily orderblock and 0.618 fib. Already up 11% after breaking the wedge and it's not done yet! 
My ideas are not meant for trading advice, always do your own research. Always be prepared for bull and bear scenarios
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
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.
My ideas are not meant for trading advice, always do your own research. Always be prepared for bull and bear scenarios
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
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.