Elliott wave Ripple analysis 28.12.2022

The XRPUSD market shows that a major corrective wave ended in the first half of December. After wave B has been completed as a horizontal contracting triangle [A]-[B]-[C]-[D]-[E], the price declined. Now the bearish wave C is unfolding as an impulse [1]-[2]-[3]-[4]-[5] as shown in the chart. Wave C could end at the low of 0.316, marked by first impulse wave A.

Trading plan for XRPUSD today:

Sell 0.362,

Take profit: 0.316.

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