XRPBTC start of bullish elliot wave
Updated
Previously I made a Elliot Wave Analysis for XRP and found out that XRP's elliot wave is pretty unbelievable
I made that Elliot Wave when it was $0.40, I believe the new ATH will be around 30k sats when BTC starts settling down
On a larger scale, the ABC correction seems about over
Short term: 15k support is pretty strong, buy in at that level
Mid-term: 30k sats within this week or next week
However this BTC rally seems pretty strong and I would strongly advise to monitor BTC prices before buying
Target 1: 20k
Target 2: 25k
Target 3: 30k
February target: 50k
Moreover, it seems like 3 of the 5 major financial institution will be using the Ripple network and Western Union seems to be one of them as their stock prices have actually spiked due to this rumor
I made that Elliot Wave when it was $0.40, I believe the new ATH will be around 30k sats when BTC starts settling down
On a larger scale, the ABC correction seems about over
Short term: 15k support is pretty strong, buy in at that level
Mid-term: 30k sats within this week or next week
However this BTC rally seems pretty strong and I would strongly advise to monitor BTC prices before buying
Target 1: 20k
Target 2: 25k
Target 3: 30k
February target: 50k
Moreover, it seems like 3 of the 5 major financial institution will be using the Ripple network and Western Union seems to be one of them as their stock prices have actually spiked due to this rumor
Note
I made a mistake, the BC wave should be a downward one, I did spot it, just that I didn't plot it correctly, look between the waves and you'll see the corrective wavesNote
If XRP breaks 17k resistance, we might see a recovery to 20k satsNote
It looks like XRP might go down more because it wasn't able to break 17k resistance but the end of the bearish trend is coming
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.