Elliott wave Ripple analysis 19.01.2023

The most recent XRPUSD chart section displays the formation of a double zigzag [W]-[X]-[Y]. The actionary wave [W] and the linking wave [X] have already been completed. Now the initial part of wave [Y] is unfolding as a standard zigzag (A)-(B)-(C), as shown in the chart. It is expected to end around the level of 0.557. During the opening of buy trades the level of 0.472 serves as the first target for a take-profit. At this level, the impulse (A) is expected to end.

Trading plan for XRPUSD today:

Buy 0.378,
Take profit: 0.472

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