Elliott wave analysis of Ripple for June 14, 2021


Ripple has seen a simple but deep zig-zag correction in wave 2/ since the April high at 1.9670. This wave 2/ correction completed at 0.6510 and is now getting ready to rally in wave 3/ that will rally way above the wave1/ peak at 1.9670. A break above minor resistance at 1.0710 will be the first good indication that wave 3/ is well under way towards 1.9670 and above.

Only a break below support at 0.7935 will delay the expected rally for a more extended correction in wave 2/.

Trading recommendation:

Buy a break above 1.0710 for the next strong rally to above 1.9670

The material has been provided by InstaForex Company - www.instaforex.com