Elliott Wave analysis for Ripple  19.08.2022

The XRPUSD crypto pair is forming the last segment of a big corrective pattern, a triple zigzag [W]-[X]-[Y]-[X]-[Z]. Its first four parts are fully complete. The actionary wave [Z] is unfolding at the moment. It will likely form as a double zigzag (W)-(X)-(Y). Its first two waves (W) and (X) formed as regular zigzags A-B-C. Thus, the cryptocurrency is expected to rise soon in the sub-wave (Y) above the maximum of 0.408 to level 0.438, where the wave [Z] will be 76.4% of the wave [Y]. 

Trading plan for XRPUSD for today:

Buy 0.359,

Take profit: 0.408.

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