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#ريبل (#XRP ) 🇺🇸 - Update on Elliott Waves forecasts on the hourly timeframe
Temporary price drop 📉
Market movements consist of impulsive and corrective waves according to the Elliott Waves theory. By studying the pair's movement, we find that it has completed five upward waves, where the fifth wave formed an impulsive structure, creating wave (1)/(A). Based on that, we expect a decline 🔼 in prices during wave (2)/(B), preferably towards correction levels of 50-61.8% of the previous upward wave. 📈
👉 After that, we expect another bullish wave. 📈
To confirm the bullish expectations, it is essential to note the following:
✨ Breakout 🏹 above the upper limit of the corrective pattern
✨ Reversal Signals ⚡️ from those levels
✨ Breakthrough 🏹 to a key level
‼️ Please note that forming a new bottom invalidates the bullish scenario. 🛑
#Ripple #XRPUSDT #FOMCWatch
$XRP