Ripple Eyes Lower Towards 0.78 Area
Gregor Horvat | Sep 08, 2021 06:18AM ET
- 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, XRP/USD 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).
h2 Ripple Elliott Wave Analysis Chart/h2 h2
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