Elliott wave Ripple analysis 26.04.2023

Ripple continues building a bearish double zigzag [W]-[X]-[Y], more precisely, its first actionary wave [W] as a standard zigzag (A)-(B)-(C). Impulse wave (A) and correction (B) have already been completed. The final wave (C) is currently unfolding as a bearish impulse 1-2-3-4-5. Shortly, the price will rise in the final part of correction 4 to the high of [A] and then decline in sub-wave 5 to 0.425. At this level, wave 5 will be 61.8% of impulse 3.

Trading plan for XRPUSD today:

Sell 0.468,

Take profit: 0.425.

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