Ripple Price Action: There is the potential of a new Elliott Wave formation

• Ripple trades 2.5% lower as crypto sentiment takes a dive.
• There is the potential that there could be a new formation in the making.

XRP/USD 1-Hour Chart

Ripple has struggled today as crypto sentiment remained weak.

Now there is the possibility that a new formation could be in the making.

This current pattern lower could be finished at the 76.4% retracement.

This could also mean there it could be the new wave 1-2 in an upside formation.

This would only be confirmed if there is a rejection at the 76.4% retracement.

Additional Levels