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📈 Ripple (XRP) Long Position Strategy
Currently, XRP appears to have completed a 5-wave structure with an ending diagonal pattern in the final wave. Notably, Wave 3 respected the 1.272 extension of Wave 1 with precision, adding confidence to the Elliott Wave count. This setup typically suggests a trend exhaustion, followed by a potential move higher after a corrective phase.
✅ Entry Strategy
Enter long after confirmation of support in the current correction zone.
Stop-loss should be placed tightly below the invalidation level of the structure.
🎯 Target Levels
1st Target: $2.42 — Breakout above the diagonal resistance
2nd Target: $2.47 — Retest of previous high resistance
3rd Target: $2.51 — Potential completion of the extended move
🔍 Technical Notes
MACD is attempting a bullish crossover after forming higher lows
RSI is recovering after exiting the overbought zone
Volume is tightening, suggesting a strong move may follow on breakout
