Currently XRP is forming a BULL-FLAG pattern that could lead to two possible scenarios...
Scenario 1: XRP is riding on the (A) (B) (C) correction waves with the (B) leg ending in the bull-flag. Take note that the positive short term momentum could still very well be a (B) wave extension --> marked as B' on the chart
A bearish breakout of the flag structure could send the price of this pair on a slippery slope (C) wave down to the 70ct support zone by the 5th of May.
This scenario would be invalidated by a bullish breakuot of the flag structure up and above the 1,70 resistance zone
Scenario 2: XRP has actually completed an A B C correction cycle on the 23th of April and is currently moving along a new (1) (2) (3) (4) (5) impulsive wave, currently riding wave (5) al the way up to the 2 USD mark by the 5th of May.
Take note that there is also a possibility that its also just wave (3) en more upward potential is possible bij wave (5)
So, or we start our long expected takoff - or wa refuel once more @ 70ct, eighter way - it will be exiting times
Scenario 1: XRP is riding on the (A) (B) (C) correction waves with the (B) leg ending in the bull-flag. Take note that the positive short term momentum could still very well be a (B) wave extension --> marked as B' on the chart
A bearish breakout of the flag structure could send the price of this pair on a slippery slope (C) wave down to the 70ct support zone by the 5th of May.
This scenario would be invalidated by a bullish breakuot of the flag structure up and above the 1,70 resistance zone
Scenario 2: XRP has actually completed an A B C correction cycle on the 23th of April and is currently moving along a new (1) (2) (3) (4) (5) impulsive wave, currently riding wave (5) al the way up to the 2 USD mark by the 5th of May.
Take note that there is also a possibility that its also just wave (3) en more upward potential is possible bij wave (5)
So, or we start our long expected takoff - or wa refuel once more @ 70ct, eighter way - it will be exiting times