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 ( II). Up from there, the rally higher is taking a form of a nest where wave I ended at $0.7900 high and wave II ended at 0.1700 low. Near-term, while dips remain above $0.1700 low and more importantly above $0.1104 low expect Ripple to extend higher within wave III approximately towards $0.8559- $1.2749 area higher before a pullback can take place.
XRPUSD Daily Elliott Wave Chart 2.16.2021
