Elliott waves crypto analysis – Looking for short positions

XRP –

Looking for short positions

Wave Analysis

The Ripple is still below the 4 hour support level 0.4478. As we mentioned during the previous trading day, as long as the price is below this level, we expect a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (v) and should breakout below 0.243. This view can only be invalidated in case the price again break above 0.4478, and even then, we’ll be waiting for another break above the upper trendline to confirm another rally towards 0.6825.

Trade Recommendations:

As long as the price is below 0.4428 look for short positions.

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