XRP seems to have completed it's cycle and is heading higher!

We can see XRP has completed it's first 5 wave impulse and corrective wave thus completing a EW cycle. This appears to be the first impulsive wave of a larger wave.
When XRP moves, we usually see large and aggressive buying and it seems we might have started one of the new cycles.

Targets of wave 3 are 1.618x the length of wave 1, or 2.618x the length of wave 1 (source: Mastering elliot wave principle)
This would mean our first target would be around 0,58-0,60 USD and our second target would be around 0.79 USD

We can see that both these targets also have confluent resistance which confirms them (please revise updates below for this)


Please look at all the confluence in support/resistance I have found in the updates below aswell which complements the analysis.
If you have profited from my idea, feel free to deposit a small tip:
BTC address: 14P3xUfNDtyBFMPFBgCdRjHx51Kd9CjSiG
XRP address: rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh
XRP tag: 104476243

Comment:

The targets as per above
Target 1: 0,58 - 0,60 USD which shows confluence with a daily bearish orderblock

Target 2: 0,78-0,79 USD which also shows confluence with previous wick

Comment:

XRP/USD
succesfull resistance to support flip, daily and 4h show great strength here

Comment:

XRP/BTC succesfull resistance to support flip

Comment:

XRP/USDT weekly bollinger band was squeezed really hard and appears to be breaking out now, could cause big volatility

Comment:

Alternate (bearish) scenario

We haven't finished correction yet and we will make 1 more leg down, in this case we would probably close below the supportlevel on the daily which would be very bearish. We don't want to see the price fall below the low of 0.393. If that would happen, this whole move could have been a fake out.

Trade active:

Correction wave looks complete, your chance to buy in now (or wait for breaking of falling wedge)
We bounced on a daily orderblock and also found support of the 0.618 fib (will post below)

Comment:

so far so good

Trade active:

as shown above, correction looked done by completing the ABC correction with a 2nd 5 wave impulse. Falling wedge has broken after finding support on the daily orderblock and 0.618 fib. Already up 11% after breaking the wedge and it's not done yet!