Elliott wave Ripple analysis 16.12.2022

XRPUSD continues to construct corrective wave B, which consists of five sub-waves. The first four sub-waves [W]-[X]-[Y]-[X] have already been completed. Now the initial part of the last sub-wave [Z] is unfolding. The whole wave [Z] can be completed as a double zigzag (W)-(X)-(Y) near the level of 0.416, marked by the second actionary sub-wave [Y]. In the current situation, consider opening long trades.

Trading plan for XRPUSD today:

Buy 0.376,

Take profit: 0.416.

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