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 unfolding as double three structure where wave w ended at $0.2465 low and wave x bounce ended at $0.7913 high. Down from $0.7913 high, the decline unfolded as another double three structure where wave ((W)) ended at $0.2853 low.
Wave ((X)) bounce ended at $0.5100 high and wave ((Y)) remains in progress towards $0.1645-$0.1457 inverse 1.236-1.618% Fibonacci extension area of lesser degree wave 4 before upside could resume again. Near-term, while bounces fail below $0.3273 high expect XRPUSD to extend lower 1 more time before upside resume.
XRPUSD 12 Hour Chart 1.09.2020
