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 is still unfolding as double three structure where wave w ended at 0.2450 low. Wave x bounce ended at $0.7644 high and wave y looking to extend lower approximately towards $0.1969-$0.1228 area lower before upside resume.
Down from $0.7644 high, the decline is unfolding as a zigzag structure where wave ((A)) ended at $0.2779 low. Wave ((B)) bounce ended at $0.5100 high. Near-term, while bounces fail below 0.3408 high and more importantly below $0.5100 high expect Ripple to extend lower towards the above-mentioned area before upside could resume.
XRPUSD 4H Chart 8.27.2019
