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 currently fighting with the 50 Cent level which is psychological support area around the previous swing low here from the 3rd of January but um xrp has so far followed the preferred scenario here the preferred wave count which is the white

One at least it’s the one that appears to be in control mentioned that in the last video that it seems um as if this wave count is currently in control due to this um yeah due to the ongoing um Bounce from this trend line from the descending trend line and also because

You know we had three waves down from the July highs three waves up that’s enough to consider that b-wave complete and then we’re watching for a c-wave down and it broke the trend line which was needed to confirm further this white scenario in which a seawave should

Really Trend a little lower we’re going to talk about that in a minute um overall I’m watching here for the potential development of a five-wave move in an ending diagonal to the downside 1 2 3 still in the making four 5 that’s how I see this the wave three is

Likely still in the making in this wave C because so far the third wave has not even reached minimum expectations so what do we normally want to see for a third wave oh it might actually have reached minimum um yeah the absolute minimum the bare minimum for this third

Wave has been reached now after the break 50.5 cents the 1.23 6 extension is the absolute minimum Target for a third so if a bounce appears now it could be the fourth wave but normally I’d like to see a third wave reach at least the 1.38

Extension or I don’t trust it um that’s at 48.6 cents yeah so from this region typically we’d like to see um a bounce in a fourth wave and then a fifth wave to the downside can still follow so maybe a little lower maybe a little lower also if we look at the internal

Structure ABC I mean the c-wave appears to be a five-wave move so maybe it’s done but um yeah I can say we are now in the region where the wave four could start okay so um but I would personally prefer if the third wave goes a little

Lower um because bear in mind that this entire structure in an Ideal World this entire seawave would end below the low of the a wve so below 43 cents so there’s a little bit more room to go to the downside and the shorter the third wave the shorter the fifth wave but that’s

The primary scenario so that’s currently being being respected I just mentioned to use some support levels primary um short-term support levels and then there is a significant one around 45.3 cents that’s the 61.8 retracement the golden ratio yeah so w within this support area I think this is covering everything and

We know that below 37 cents um things are going to get difficult okay because then we’re breaking below the 78.6 FIP level and it would be too low for Reliable um yeah corrective pullback that could still lead to Rising prices going forward now in addition to that we might

Add the 100% extension level so if we add the um the 100% extension it’s actually pointing towards the 34 Cent level so that would be below the main support that’s not an invalidation point the support area but it’s just that we have levels to watch in any correction

And if they break the scenario is they basically in danger yeah it’s h going to get challenged ched but let’s see I mean for now we have a lot of space still in this scenario and obviously there’s still the alternative scenario which isn’t invalidated the invalidated not the invalidated but the um the

Alternative count suggests that um this was an a-wave like in both scenarios yeah but that the B wve is still unfolding and that’s still a likely option even though we’ve broken below the trend line but it can always just be a fake out so in the alternative um also

Because we haven’t broken below this swing low here that was made in August in the alternative this here was an a wve to the upside a b-wave to the downside still only three waves down right and then a c-wave to the upside and then the B wve finishes here in this

Region round about yeah and then a c-wave down can follow so in both scenarios we’re dealing with corrective structures um in both scenarios I don’t really have a very reliable trade setup shortterm yep I mean the support areas are clear you know you can watch there for for a potential bound

But there is just not again I have to mention it again there is no impulse anywhere and without an Impulse This is highly unreliable price action it could even I mean nothing stopping this sideways move from let’s say turning into some kind of a triangle right um a

A larger triangle or something I don’t know it’s possible because we’re dealing just with corrective structures so that means just beyond the side of caution here maybe um probabilities are typically quite um bad balanced on charts which are yeah let’s say very corrective and where we only dealing with yeah

Three-wave movements in any direction but let’s see I mean for now um the white count remains in my opinion in control and I would continue to focus mainly on the white count which means further downside as long as the price has not been able to break Above This

Descending trend line and in addition to that if if wave four starts from here okay what would be resistance I think even with this resistance it might even break above the trend line yeah it might do um but to be honest I will probably assume I’ll mention it but I will

Probably assume that um it’s the B wve if we get a break above resistance right but just to mention it resistance for the wave four oh maybe I leave it on here if it starts from here okay but it would assume wave three is finished it really only met the bare minimum

Remember but if the wave four starts from here the resistance is between 56.5 cents and 61.4 cents so really only a break above that level would suggest that the B wve has started so yeah we should really we should really wait for that resistance area to be broken

Because we’re dealing with a diagonal before we can say it’s a b wve but um I think already the break above the trend line would nevertheless um shift probabilities towards okay it’s it’s a b-wave that’s all I can say at the moment moment 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 and 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