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20.09.202106:09 Forex Analysis & Reviews: Elliott wave analysis of Ripple for September 20, 2021

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Ripple should move closer to the 61.8% corrective target near 0.8560 before completing the corrective decline in wave ii. If so, we will be looking for the next strong impulsive rally in wave iii towards 2.3227 and maybe even higher.

In the short term, we see resistance near 1.0526, which is expected to cap the upside for the corrective decline to 0.8560 and the higher in the next impulsive rally towards 2.3227.

Torben Melsted
Analytical expert of InstaForex
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