XRP D1 Analysis: Potential 5-3-5 Zig Zag Pattern with Impulse Likely at the End
On the D1 timeframe, XRP appears to be forming a B Flat Wave pattern, with Wave A completed and Wave B currently in progress. The retracement from the starting point to Wave A’s endpoint has not yet reached the key 0.618 Fibonacci level, suggesting further corrective movement before the trend resumes.
This structure may be developing as a 5-3-5 Zig Zag, where Wave C could unfold impulsively after Wave B concludes. Traders should monitor whether Wave B reaches the expected Fibonacci levels, as the completion of this corrective phase may signal a stronger, more impulsive move in Wave C.
In summary, XRP is likely following a 5-3-5 Zig Zag pattern, and traders should stay alert for confirmation before making any decisions.
