Ripple Eyes Lower Towards 0.78 Area

  • Major Crypto Currencies slide lower
  • Ripple dropped sharply from strong resistance
  • XRPUSD  looks for at least three wave decline

Looking at the major cryptocurrencies and their intraday charts, some of them may have already completed first leg A/1, while some of them can be still unfolding it. Anyway, in any case watch out for a continuation lower once current corrective rallies fully unfold, either in sub wave iv or higher degree wave B/2.

Ripple, dropped big and sharply after we noticed strong resistance and 5th wave. So, with current break below trendline, seems like we can now expect a new three-wave decline at least back to 0.78 area for wave (C) or maybe even down to 0.51 area for wave (3).

Ripple Elliott Wave Analysis Chart

Ripple Elliott Wave Analysis

Ripple Elliott Wave Analysis

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