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Elliott Wave Principle defines a triangle as a sideways movement usually associated with decreasing volatility. Sounds kinda boring. But in fact, it’s just the opposite — this Elliott wave pattern is a favorite among traders. 

Why? Because triangles are often followed by a swift, sharp move and their structure makes them ideal candidates for low risk/ high reward set-ups!

Check out this triangle pattern our Cryptocurrency Pro Service team spotted in Ripple (XRP):

XRP – Intraday Update: 1/18/2023 4:46 AM

We expect wave ((e)) to remain below 0.3987 and set the stage for a post-triangle thrust to take prices below 0.3766…

Here’s what happened:

Read more about triangles and other wave patterns in our free, online reader:  Elliott Wave Principle: Key to Market Behavior.