Elliott wave Ripple analysis 17.05.2022

The XRPUSD market is forming the bearish motive wave Z as a simple zigzag [A]-[B]-[C] in the hourly timeframe. The final leg [C] is currently unfolding as a five-wave impulse. Sub-waves (1)-(2)-(3) have completed, and the price chart is drawing corrective wave (4) as a double zigzag W-X-Y. Wave (4) should end at a level of about 0.492, where wave (4) will be 50% of wave (3).

Trading plan for XRPUSD today:

Buy 0.426,

Take profit: 0.492.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 17.05.2022 | LiteFinance

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