XRP - 1D Elliott Wave Count
2025-01-16
Category: None

Greetings, this is my update for the daily Elliott Wave count for XRP.

We broke out of the Elliott Wave Triangle that was communicated in the last posts.
We assume that the green Wave 4 has finished with this Elliott Wave Triangle and we started the green Wave 5 which could be the last rally of this bull market.

Today we want to discuss first upsides targets for this green Wave 5.
The first targets we have are the 1 to 1 FIB ratio at 3.7898 USD, the 1.236 FIB at 4.3088 USD, the 1.382 FIB at 4.6649 USD and the 1.618 FIB at 5.3037 USD.
We did add an additional higher timeframe target at the 1 to 1 FIB which sits at 5.5736 USD.

Noteworthy is that this additional target at the 1 to 1 FIB at 5.5736 USD is relatively close to the 1.618 FIB at 5.3037 USD. We also added the ATH which sits at 3.5505 USD which could function as short term resistance.

After we get more clarity in the short term we can calculate further targets to the upside.
Additionally we wouldn't be surprised if we get extensions and hit higher targets at 5$+ but we'll see how it develops and take it step by step.

Thanks for reading.

NO FINANCIAL ADVICE.