() is still looking lower after recent three-wave A-B-C correction in wave (B)/(2), so XRP is ideally unfolding a new five-wave bearish impulse, where current consolidation can be as part of subwave 2. That said, be aware of a continuation lower, but maybe after a retest of 1.15 intraday resistance area.
As per Elliott Wave analysis, XRPUSD dropped big and sharply in the 4-hour chart after we noticed strong resistance and 5th wave. So, with current break below trendline, seems like we can now expect a new three-wave decline at least back to 0.78 area for wave (C) or maybe even down to 0.51 area for wave (3).
Ripple 4h Elliott Wave Analysis Chart
Ripple Elliott Wave
Ripple Elliott Wave
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.