Hi there all. Based on the 4 Hours time frame, XRP formed the 1st Wave from 28 cents to 39 cents. This interprets that Wave 1 is completed and we are in the corrective wave in 4 Hour time frame.
The Support level in this frame will be the 50% Fibonacci level which is currently sitting at $0.33333.
Expected Wave 3 will be towards $0.62 having a corrective Wave 4 and then finally hit the $0.66899 target level. Are we going to see all these scenarios in 2 weeks' time? The time will tell. Let's check our 5 Elliott Wave Structure chart now.
XRP in 4 Hours Time Frame
I would like to also mention the Ichimoku Clouds in the 4H frame. As it is clear, the price action is above the clouds indicating the uptrend.
Summary:
XRP is continuing the $0.66 target actions and the first milestone was the Wave 1 which is completed. Let's see if the Wave 2 structure is set and looking forward to Wave 3!
As always, Important Note: None of the targets represented here is financial advice. Do your research in due diligence and take responsibility for your actions when buying or selling an instrument.