CryptoHedging

Wave 4 forming on Weekly XRP

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CryptoHedging 已更新   
On the weekly time we could see a 5 wave structure (Elliot wave) with Wave 4 forming up. This Wave is typically a consolidation and if it keeps this rate the price could catch up with the Weekly 50EMA and form a support.

Other scenarios are that the price can move lower in the red zone that acts as overall support and could then retrace around the 0.24 price zone: around 20% correction.
This in itself could shake out some buyers but would provide an excellent opportunity to accumulate more.

None of these scenarios nor TA structures are time bound - it's a wait and see game.
Overall view is a long term hold.

Thank you!
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Accumulated more on the drop
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