Ripple completed a five wave rally on intraday chart so it’s time for a new retracement in three legs. Support is at 1.0 psychological level.
XRPUSD is trading below 1.3131 level so technically trend is still down, but a break out of a downward channel and overlapping with red wave (B) on 4h time frame suggests that bulls are waking up. That been said, the price may travel higher in the short-term, maybe even back to 1.2434 spike (coinbase error) after 1.3131 is taken out.
Ripple 4h Elliott Wave analysis
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