Elliott wave Ripple analysis 20.01.2023

The XRPUSD market continues to construct the 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). It is expected to end around the level of 0.557. The first impulse wave (A) may end at the level of 0.472, where it is profitable to set the first take profit.

Trading plan for XRPUSD today:

Buy 0.385,
Take profit: 0.472.

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