Today we will talk about XRPBTC cryptocurrency cross pair as we see an interesting development.
Well, XRPBTC is down since the beginning of 2018 and we see it trading in third leg C, but wave C is a motive wave and it has to completed with five waves, ideally as part of an ending diagonal (wedge) pattern, which can retest 2017 lows before we will see a bullish reversal.
Something similar has already happened between 2015 and 2017 and if we consider that BTC.Dominance is trading at the lows and strong support, then we would not be surprised if XRPBTC remains in the downtrend for some time.
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I think that the diagonal is likely completed with the truncated wave 5 in March, why not. And we have 1-2 to the upside, having broken the diagonal’s upper forming line.
UnknownUnicorn3382580
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@WXYXXZ just look at the volumes... unlikely to make a new low...
entelajanziya
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that means xrp will moon. good news.
ew-forecast
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@entelajanziya, sure it will, but when? It's weekly chart, so it may take a lot more time before real bulls show up. Oh, and thanks for sharing our previous articles. Yes, they jumped higher above invalidation levels, but don't be surprised if come back to lows.