XRPUSD Elliott Wave Technical Analysis – Daily Chart
Market Overview
The XRPUSD price structure shows a continued downward correction within Corrective Wave (B), suggesting further downside potential before stabilization. Traders should monitor key support levels for potential reversal signals.
Key Analysis Points
- Function: Counter Trend
- Mode: Corrective
- Structure: Flat
- Position: Wave ((B))
- Next Higher Degree Direction: Wave IV
- Critical Support Level: 1.533 USD
Trading Strategy
Long Strategy
✅ Entry: Consider buying when XRP retraces to the $1.533 support zone and shows strong buying pressure.
✅ Profit Targets: 2.50–3.38 USD
⚠️ Risk Management: Exit positions if price breaches 1.533 USD.
XRPUSD Elliott Wave Technical Analysis – H4 Chart
Short-Term Outlook
The H4 chart confirms the corrective phase within Wave (B), with a potential temporary rebound (Wave B up) before the final Wave C decline.
Trading Plan
- Entry: Look for long opportunities near $1.533 with bullish confirmation.
- Targets: 2.50–3.38 USD
- Stop Loss: Below 1.533 USD
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FAQs
1. What is Elliott Wave Theory?
Elliott Wave Theory analyzes market cycles through impulse and corrective waves, helping traders predict trends.
2. Why is $1.533 a critical support level?
It aligns with Fibonacci retracement and historical demand zones, making it a strong reversal candidate.
3. How accurate is this XRP forecast?
While no prediction is 100% reliable, Elliott Wave analysis provides high-probability scenarios based on price action.
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Conclusion
XRPUSD remains in a corrective phase, with 1.533 USD as a key support level. Traders should watch for reversal signals before considering long entries.
Disclaimer: This analysis is for educational purposes only. Conduct your own research before trading.
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