Ripple C wave down to support levels ~ $0.90

17 בספט׳ 2021

Ripple has had a strong trend since bottoming out at around ~$0.52 in July this year and has come up testing strong resistance orderblock between $1.35-$1.40 where strong selling pressure pushed the price down rapidly and impulsively down in a 5 wave count sell off; since then ripple has shown weakness and inability to regain higher prices; we have seen a potential B wave put in with sideways price action with a potential selling off towards key support at ~$0.90 which could be a key reversal level. Important to note is that we came up in a clean 5 wave impulsive count from the lows of $0.52 suggesting that after a clean ABC zig zag towards support ripple could look towards a wave 3 towards new highs. Breaking the $1.05 level will be key in selling off towards $0.90.

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Advanced Elliot Wave Applications