Elliott wave Ripple analysis 16.01.2023

Ripple is building a linking wave (X) of a large double zigzag. The internal structure of (X) looks like a double zigzag W-X-Y. Now the last actionary sub-wave Y is unfolding as a double zigzag [W]-[X]-[Y] of a smaller degree. Shortly expect the construction of an ascending sub-wave [Y]. It is expected to end around the level of 0.557. In the current situation, it is reasonable to open long trades.

Trading plan for XRPUSD today:

Buy 0.399,
Take profit: 0.557.

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