Ripple XRP Price News Today Technical Analysis – Ripple XRP Price Now! Elliott Wave Analysis!

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Ripple XRP Price News Today Technical Analysis – Ripple XRP Potential! In this video I talk about the cryptocurrency XRP and talk about the crypto project Ripple. I carry out a price analysis. What is next for Ripple? I also talk about Elliott Waves.

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Hello and welcome to another update video about xrp xrp is moving in stable coin style and continues to Trend well sideways without a trend really um we still looking here at the 4H hour chart like in the last videos and um want to share with you the potential next moves

And also key support levels because um xrp has been dancing now on that 50% Fibonacci level that I have been well mentioning a while ago and the price yeah I mean found support there red a bit came down to support still dancing on that support level I mean that’s

Definitely not clearly bullish the structure is to be honest a big mess the market sort of did down here you know throughout summer we were exploring here an upcoming rally um I think there was at some point a key pivot point where we said okay if we break above that level

We should get into this resistance area and then get rejected here somewhere and after that um come down into support which all happened and then we had we had an you know we had a good run with xrp because there were some movements and the price reacted to some FIB levels

That our analysis revealed so it did go according to plan to a degree you know and you know but with xrp sometimes you get these periods where a lot of exciting stuff happens well it was a short period and then just this sort of ongoing corrective sideways action and I

Mentioned it many times that xrp likes to move in corrections I mean xrp is probably one of the most boring coins at the moment I know you don’t want to hear it it is you know and that might change at some point and um xrp’s time will probably come but the overall chart

Looking at the bigger picture just to make you aware again this chart is simply a huge triangle so since you could say 2018 this chart hasn’t been trending at all because it hasn’t made a new bull market high in 2021 it hasn’t made a new low so it’s

Basically forming higher lows and lower highs and that leaves a lot of room for interpret ation there is no clearly bullish well there is a bullish pathway but probabilities are a little bit unclear because um I can see this here as a triangle a wave down the b-wave

Triangle C wve down um so a yeah a wave down b-wave Triangle C wve down other interpretations are of course possible I could even argue this is a wave three maybe this is a wave four triangle we get one more high and then the wave four finishes as triangle you see

Um if a market or if a chart moves in a sideways correction in a triangle and this is a big correction most likely it’s really hard to say where you know where it’s going with high likelihood so the probabilities on this chart are fairly balanced well you could say now

Okay so what is the what’s the value of the analysis well you know we can still watch some levels and track some structures and what I want to to see um to get a more reliable setup because we we want to explore obviously okay you

Know do we see a trend change do we see anything exciting and we can really only get that once we get five waves because these five waves indicate the trend Direction so if we get five waves on a reasonable and meaningful time frame um of meaningful size and this would

Definitely be meaningful size then we can add a support area for a wave two pullback and we say okay we’ve got five waves up three waves down that means the next move up should also be a five-wave move and could then take xrp to $11 plus so that’s sort of the stuff we’re

Watching for at the moment probabilities are still fairly unclear and that definitely is a valuable outcome of the analysis because it could what you think always think about what does that mean for your trading plan it could mean that it might be worth not to be very

Aggressive at the moment it could mean that you might want to have only small positions maybe only spot you know things like that definitely if the probabilities are less clear you have less of a directional Edge um we still have our support levels yeah and they

Are quite clear so below 56 cents I think the assumption that we could get one more High here well that will definitely reduce in likelihood quite substantially so at the moment I still keep the door open for higher prices in five waves again that’s a pattern that

We first need to see to determine that the trend is going up overall and then we can wait for a pullback but as I mentioned many many times I am only tracking this because of the wider crypto Market at the moment which is generally quite bullish but xrp hasn’t

Hasn’t really joined the recent rallies at least not yet xrp loves to move only in three-wave structures so I would absolutely not be surprised by a break below 56 cents but the level is quite clear so 56 cents decides for me between um a rally in a fifth

Wave and which should go above the 5th of November high so above 73 cents um and a more bearish outcome which would mean that we’re dealing here with possibly a wxy structure and from there we can then attempt another rally but we’ll see it will definitely open um a lot of other

Possibilities below 56 cents so it will not add to Clarity it will make it clear though if we get five waves up or clearer and that’s why I prefer it at the moment yeah that’s my update about xrp hope you like the update if you did please hit the like button leave a

Comment and subscribe and if you really like the content then please check out the channel membership also make sure that you follow us on Instagram and Twitter for additional content thanks a lot for watching [Applause] bye-bye