Elliott wave Ripple analysis  31.05.2022

The (Y) wave must have completed as a triple zigzag W-X-Y-X-Z. The chart displays the final leg of the zigzag, wave Z. Next, the market has formed an ascending impulse (1) and a descending correction (2) as a double three W-X-Y. The market is rising in a new bullish impulse, whose initial part is composed of sub-waves 1-2-3 displayed in the chart. Wave 1 must have finished, and a short descending correction 2 is developing. When wave 2 completes, the price will be rising in wave 3 to a level above 0.534, the high marked by corrective wave 4 of a smaller degree.

Trading plan for XRPUSD today:

Buy 0.413,

Take profit: 0.534.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 31.05.2022 | LiteFinance

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