Elliott waves can be a powerful tool for trading cryptocurrencies. For example, on Monday (16December) waves helped our Crypto Pro Service analytic team detect a bearish setup - and alert subscribers in time.
On Tuesday, after our bearish forecast, Ripple fell 13% in one day.
Take a look at this Elliott wave chart and see what happens next with XRP, as well as with key price levels.
Published on Monday, December 16, 2019.
A decrease in wave (2) is assumed.
Key levels: 0.21939, 0.31490
Although 0.20013 has not yet been violated, a breakthrough seems inevitable, and therefore we foresee it and allow a further minimum to complete the wave (2). Ideally, he will find the bottom in the range of 17-19 cents. A rally above 0.21939 would be evidence that the bottom has already been made.
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