XRP Wave 4 Almost Complete
On the daily we have Supertrend support at 0.41-0.42. This coincides with a 0.5 FIB retracement to the same area.
From a wave count perspective, we seem to be in a Wave 4 which is a long way off from being invalidated. XRP would have to enter Wave 1 territory at 0.33 for this wave count to start falling apart.
With this in mind, I would enter at the 0.5 FIB level and Supertrend support at 0.41, with a stop loss at the 0.382 FIB level at 0.36.
As for R:R, if we do end up bouncing into a Wave 5 we should extend beyond the 1.00 FIB level at the end of Wave 3. The next important 1.272 level is at least a 1.09 XRP...
From a wave count perspective, we seem to be in a Wave 4 which is a long way off from being invalidated. XRP would have to enter Wave 1 territory at 0.33 for this wave count to start falling apart.
With this in mind, I would enter at the 0.5 FIB level and Supertrend support at 0.41, with a stop loss at the 0.382 FIB level at 0.36.
As for R:R, if we do end up bouncing into a Wave 5 we should extend beyond the 1.00 FIB level at the end of Wave 3. The next important 1.272 level is at least a 1.09 XRP...
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