We're long | 12 April 2018

Wave Analysis

In the recent past Ripple established a support at 0.4532-0.4134 and is not showing any signs of breaking below it. As long as this zone protects the lower side, we expect a possible rally to the upper side. Ideally, we expect this zone to have marked the end of both the impulsive waves (v) and (c) that the current rally to the upper side is the unfolding of a corrective three wave cycle and should break above the upper trend line acting as the hypotenuse to the triangular formation. Conservative traders can still look for long position towards this trend line.

Trade Recommendation:

We're long with our target along the upper trendline