đš #xrp Trade Setup â Potential Long Opportunity đš $XRP
On the 4H timeframe, XRP has completed a 5-wave structure, which may signal the end of the second corrective wave of the Elliott pattern.
đ A key trendline resistance (highlighted in the circle) is being closely watched. A breakout above this line could confirm bullish momentum and provide a solid entry point for a long position.
đ Trade Plan:
âą Entry: Market buy upon breakout of trendline resistance + confirmation via previous high breakout
âą Stop-Loss: Just below the bottom of Wave 5
âą Take-Profit:
âą TP1: Retest of previous high
âą TP2: 2.65.50 target zone
â ïž Wait for confirmation of breakout â no entry before the resistance is broken with momentum.
This setup follows classic Elliott Wave Theory, aligned with structure, momentum, and breakout logic. Monitor price action closely!
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