XRPUSD should correct before any further leg up
The party could continue but a correction is overdue. We're in a distinct Wave 5 move on the 2hr with several key indicators firing. Overbought on multiple oscillators.
Additionally, profit-taking from recent XRP gains, driven by optimism around partial legal victories, could add selling pressure. If trading volumes drop, it could amplify the downside move, before another (potential) leg up.
Trade closed: target reached
DECEMBER 09 UPDATE
XRPUSD hit as high as 2.90 before correcting to as low as 1.95 since our post.
Currently trading at 2.17, or 11% lower than when we first predicted the correction.
Precise moves in and out means money in your pocket.
Rinse and repeat with similar technical setups.
Be Alert.
Trade Green.
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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.