Elliott wave Ripple analysis 03.05.2023

Wave [W] is unfolding as a standard zigzag (A)-(B)-(C). Impulse (A) and correction (B) have already been completed. The final wave (C) will take the shape of the bearish impulse 1-2-3-4-5. Horizontal correction 4 has been completed as a double three within impulse (C). Shortly expect a decline in impulse 5, consisting of sub-waves [1]-[2]-[3]-[4]-[5], in the direction of 0.425. At this level, impulse 5 will be 61.8% of impulse 3.

Trading plan for XRPUSD today:

Sell 0.457,
Take profit: 0.425

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