Ripple is a distributed financial technology allowing banks to efficiently settle transactions in real-time. XRPUSD is the native currency of the Ripple network traded against the US Dollar.
The near-term view is suggesting that the bigger correction against all-time low unfolded as triple three structure where wave w ended at $0.2465 low, wave x bounce ended at $0.7913 high, wave y ended at $0.1763 low, second wave x ended at $0.3463 high and wave z completed at $0.1104 low. And with this, Ripple completed the biggest pullback in wave ( b). Currently, it’s correcting the cycle from March lows & expected to reach $0.1988- $0.1618 area lower before resuming the upside again. Near-term, while bounces fail below $0.3280 high expect Ripple to extend lower.
XRPUSD 4 Hour Chart 9.22.2020
