It may seem like the price growth of Ripple is unsustainable, and we may see steep corrections for days to come. However, I believe that we will one more surge before we experience steeper corrections. By drawing Elliott Waves, we see that we are only on wave 4! That means, we have one more wave to go. In fact, we just finished an ABC correction and might even be starting wave 5 already. In this scenario, the price of Ripple could reach $0.65! An alternative Elliott Wave count is that we experiencing a WXY correction, and the price will only dip slightly lower. In that case, we get a target of $0.60. Please note that these targets are relatively conservative; the price could easily exceed these targets.
In addition, the RSI confirms our Elliott Wave analysis. We are forming what's called a falling wedge. The resistance line is falling along with the support line. However, the support line isn't falling as fast as the resistance line. That means, there are less and less sellers during each dip in price. When there are no sellers, there is nothing to stop the bulls to start pushing the price higher.
In addition, the RSI confirms our Elliott Wave analysis. We are forming what's called a falling wedge. The resistance line is falling along with the support line. However, the support line isn't falling as fast as the resistance line. That means, there are less and less sellers during each dip in price. When there are no sellers, there is nothing to stop the bulls to start pushing the price higher.