Technical analysis by AwesomeOscDad about Symbol XRP: Buy recommendation (5/18/2025)

📊 XRP/USD – Bullish Reversal in Progress After Wave 5 CompletionTimeframe: 1HStructure: Elliott Wave + Divergence + Break of StructureIndicators Used: Awesome Oscillator (AO), Fibonacci Retracement, Market Structure⸻🧠 Wave Count & Structure AnalysisWe’ve just completed a clean 5-wave Elliott impulsive structure to the downside:•✅ Wave 1–5 clearly marked with strong bearish momentum•✅ Wave (3) and Wave (5) show bullish divergence on the Awesome Oscillator (AO) – a classic sign of weakening bearish momentum and potential reversal•✅ Wave (5) completed at the bottom with confluence from price action and AO divergence⸻🔁 Break of Structure & Confirmation•✅ Break of structure (BoS) occurred at 2.35064, confirming the end of the bearish impulsive wave and the start of a potential ABC corrective phase•✅ The BoS also coincides with a dominant structure break, giving higher confidence in the trend shift⸻🟦 Current Price Action: ABC Corrective Wave FormingWe’re now in the early stages of a bullish corrective wave (ABC):•🔹 Wave A has likely completed•🔹 Currently expecting a retracement to form Wave B•🔹 Wave C target is projected based on Fibonacci extensions between 1.618 to 1.88, offering a high-probability take-profit zone (TP1)⸻🎯 Trade SetupPending Buy Entry:•📍 Entry Zone: Fibonacci retracement between 0.382 – 0.618 of Wave A•🎯 TP1: Fibonacci extension of Wave C between 1.618 – 1.88•❗ SL: Just below Wave (5) low or below 0.618 zone, depending on risk tolerance⸻🧩 Confluences for Bullish Setup•✅ Elliott Wave completion (Wave 5)•✅ Bullish Divergence on AO•✅ Break of Market Structure (BoS + Dominant BoS)•✅ Retracement into Fibonacci golden zone (0.382–0.618)•✅ Measured C wave extension to 1.618–1.88⸻📝 SummaryThe market has shown strong technical signals for a bullish corrective move after a clean Elliott 5-wave completion. With a confirmed divergence, break of structure, and upcoming ABC retracement, this setup offers a solid risk-to-reward opportunity. Watching the buy zone closely for a pending long trigger.⸻🔔 Disclaimer:This is not financial advice. Always conduct your own analysis and manage your risk accordingly.