Since the rally to $0.7 last week, Ripple has remained sideways awaiting a breakout. The following 18-19 April Ripple price prediction looks at XRPUSD forecast based on Elliott wave theory.
18 April, AtoZForex – There has not been much price move this week in the Crypto market. The majors remain in a range with last week high as upper boundary. The bullish breakout last week has raised hope among Crypto buyers. XRPUSD topped at 70 cent last week from a 45 cent low. Price opened around 65 cent this week but has remained between 70 cent boundary high and 62 cent lower boundary. Price activities since it opened this week has almost completed a known sideway corrective pattern. Could this mean that XRPUSD would rally further to 75 cent if price breaks upside?
The chart below was used in the last update.
Once the sub-wave iv of wave 5 is taken out, price is believed to have confirmed the end of an impulse wave. Price already broke above 0.5538, so the impulse wave can be said to have completed. There is a strong likelihood of price rallying further in the coming days. Just like BTC is expected at $9000 and $11000, XRP could also be at 84 cents and $1 in the coming days.
We started counting a bullish impulse wave to see when the next dip would happen. Knowing when a dip would happen in an uptrend can provide an opportunity to join it. Since price peaked at wave 3, it has remained sideways and has now probably completed a triangle pattern. Triangle patterns are often seen in the 4th wave of an impulse wave. They usually precede the last leg of a trend or correction.
18-19 April Ripple price prediction : what next?
The triangle wave 4 formed between $0.7 and $0.62. Price is gradually breaking upside at the time of typing this analysis. A stronger move to $0.75-$0.8 is much likely in the coming days. At the end of the impulse wave, what next? A 3-wave bearish correction back to $0.6 is likely before the bullish move continues to or above $1.
Do you have other views in contrast to the ones listed or you want to compliment them further? let’s know by your comment below.
Don’t forget to share this analysis with people that matter to you.