Ripple (XRP/USD) Elliott Wave Analysis

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 XRP/USD daily chart


From the above chart, prices are moving in a sideways pattern as it trades in a range of $3.60-$0.40.  In June 2021, prices tumbled and tested the lows as mentioned above and in current month  strong bounce back is seen in this crypto currency.

As par Wave theory, prices have completed wave 1 followed by wave 2 down in corrective pattern. At present it is moving in wave 3 wherein currently it is moving in wave (iii) of wave iii, so it is very clear that it is an extension within extension.

The Summation is Ripple is likely to test $3.60 over short to medium term as far as $ 0.40 is intact on the downside.

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