Elliott wave Ripple analysis 06.01.2023

The XRPUSD hourly timeframe shows the formation of a downward impulse wave C. It began to form after the completion of the contracting triangle B. Wave C consists of sub-waves [1]-[2]-[3]-[4]-[5]. Now the final sub-wave [5] is unfolding as the impulse (1)-(2)-(3)-(4)-(5), which requires the completion of the last sub-wave (5). Its end is expected near the low of 0.298, marked by an impulse sub-wave (3).

Trading plan for XRPUSD today:

Sell 0.333,

Take profit: 0.298.

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