The hourly XRPUSD chart displays the structure of the bearish motive wave (Y) unfolding as a simple zigzag, with the first impulse wave A completed inside. There is forming correction B as a double zigzag [W]-[X]-[Y]. Wave [W] is a double combination. The linking wave [X], composed of sub-waves (W)-(X)-(Y), could have also completed. The market should be rising in sub-wave [Y] to a level of 0.966, where the B correction will be 50% of the A impulse. The [Y] wave could end as a double zigzag (W)-(X)-(Y).
Trading plan for XRPUSD today:
Buy 0.824,
TP 0.966
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