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Ripple - XRP Daily Detailed Analysis - WXY ? | 16 April 2018

BITFINEX:XRPUSD   Ripple / U.S. Dollar
Here's a detailed analysis of XRP on the hourly chart.

We clearly had five waves up ( 5 minor waves = 1 major wave up), then we saw an ABC type of correction (major wave 2 = correction). Next seemed like we are about to begin the start of the major wave 3, however, that's failed.

In order to attempt to form a major wave, we have to see another ABC correction. The whole structure would make a WXY pattern.

In regards to landing prices;

  • First Scenario:

Is that we fall to 0.382 Fibonacci level which actually is a strong support. (As it's the beginning of wave 4 from the major wave1, and also it's the ending of wave W)
Target1 = 0.612 - 0.622 $



Second Scenario:

It is possible that we retrace to the popular 0.618 Fibonacci level and the Golden zone.
Target2 = 0.55 - 0.58 $
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