Hi there! First, I would like to thank MEXC for this excellent opportunity to reach you here! And this post will be a special one regarding Ripple (XRP/USDT – Trade it here) and the trading of crypto in general.
I want to share my insights on the latest XRP performance, especially in Crypto Trading. Most of you know I am an Investor. On the other hand, I am a trading Enthusiast. Trading can be a great income generator as long as you follow your trading strategies without digressing the primary plan of trading.
XRP Performance on Monthly Time Frame
Well, let’s check XRP’s current status in the monthly chart. As you know this structure, we will be checking what Elliott Wave Theory says. We set the last piece of the corrective C wave of ABC Wave, which has 5 Wave structure as below:
Elliott Wave Has 2 Rules of Wave 5 (The current Wave we are in):
- Rule 1: Wave 5 is inverse 123.6 – 161.8% retracement of Wave 4. This gives us a target of $0.19 – $0.22
- Rule 2: Wave 5 is equal to Wave 1. Elliott Wave Theory says Wave 5 can be equal to Wave 1, which brings us the target towards the $0.09 level.
Considering the above rules, seeing these levels won’t be a surprise, as we expected a long time back. So it is easy to say we are close to completing the Grand Cycle correction of 4 years.
Green Box is where XRP has strong Support and Resistance levels such as $0.55 and $0.33.
In summary, Wave 5 sooner or later will be completed for XRP, and we are so close to this moment. Remember, we are talking about the Grand Cycle Corrective Wave 2 (ABC Wave, and We are at the 5(th) Wave of the C). This means the Grand Cycle Wave 3 for XRP will take place. This wave is targeting XXX digits.
It is crystal clear XRP is targeting 2-3 digit price levels after this correction ends. And, of course, the final verdict of the lawsuit will play tremendous input in these figures being realised. I expect XRP to start the 3(rd) Wave just before the case settlement. And as always, none of these opinions is trading advice but my thoughts.
XRP Weekly Time Frame, Closer Look
Let’s have a closer look and zoom into the time frames, and check the weekly frame. XRP in this smaller triangle is ready for the decision. It will be the last corrective wave if XRP can’t hold to the $0.33 significant support. Below this level Fibonacci Level of $0.22 will be the first point as solid support.
However, we can interpret this triangle and close above this level. This move can be named XRP finished the correction and started producing motive waves. One way or another, XRP is close to finalising the correction.
It is crystal clear XRP is targeting 2-3 digit price levels after this correction ends. And, of course, the final verdict of the lawsuit will play tremendous input in these figures being realised. I expect XRP to start the 3rd Wave just before the case settlement. And as always, none of these opinions is trading advice but my thoughts.11:19
Dark Defend’s Trading Strategies:
“Strategy without tactics is the slowest route to victory. Tactics without strategy are the noise before defeat.”Sun TZU, The Art of War.
In my experience, yes, trading exactly reminds me of the War. Therefore, one on a battlefield must be prepared for all terms. My four pillars in Trading:
- The Strategy – a solid plan with a solid strategy is the key to success. The main goal should be to set when to enter the trade and define the exit point.
- Correct Platform – the correct platform that supports your trading goals, such as setting stop loss or profits quickly with lower fees, etc.
- Self-discipline – Solid rock discipline to control emotions to stay in line with the strategy.
- Patience – The most important virtue is keeping the trading persistent until the plan objectives are reached.
It looks easy but not at all. As you know, I am analysing XRP in major and advise the ones who are trading to be highly careful since the crypto price ranges are broad when they go up or down and are entirely different from stock shares.
This why traders should be aware they have a solid plan first, especially in the field of Crypto when they are opening a short or long position and exiting as long as the initial goal is actualised. Sticking to the plan is always the key to success.
If you don’t have a plan to define your goal and risk assessment, please don’t trade. A trader must have a solid plan with clear exit routes when they have a loss or a profit. Otherwise, trading harms the financial situation. However, trading with a well-defined strategy and discipline can change your life entirely.
Whether trading or investing, I am happy that I discovered MEXC since they have an extraordinarily diverse platform where I can easily buy XRP. Investing or trading is easy with them. Of course, my approach is to buy XRP from MEXC and always keep them in my cold wallet.