Elliott wave Ripple analysis 11.05.2023

Ripple continues to build an actionary zigzag wave [W], consisting of three sub-waves (A)-(B)-(C). Shortly expect completion of sub-wave (5). After that, a reversal will occur, and the formation of a linking wave [X] will begin. It will end at 0.474, where wave [X] will be 38.2% of the bearish wave [W]. An approximate trajectory of the future price movement is outlined in the chart.

Trading plan for XRPUSD today:

Buy 0.425,

Take profit: 0.474.

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