Elliott wave Ripple analysis 22.08.2022

The XRPUSD market is forming the initial part of the corrective pattern unfolding as a double zigzag W-X-Y. There is developing the first sub-wave W as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. The price could be rising to the previous high of 0.408, marked by wave [Y]. The price should be rising in the motive wave [Z] developing as a standard zigzag (A)-(B)-(C), as outlined in the chart.

Trading plan for XRPUSD today:

Buy 0.338,

Take profit: 0.408.

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