Ripple is still undergoing a corrective a,b,c,d,e triangle.
Waves a, b, c and d could have been done. Now price should drop to complete wave e. It could be a perfect entry point.
Once the five waves will be completed Ripple should start again to growing vertically, exactly as it did during the previous waves.Minimum target 4.05 - 4.40 USD.
Just wait and let's see if this waves count is correct. If not, it could take a little beat longer to complete the correction, but the target remain the same.
Trade active
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Here we go !! Lets see if volume will support a break out.
Order cancelled
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Last lower low shows us that a recount of the corrective waves is needed. Correction will be much longer then expected
with that lowest point from yesterday I would think the ABC is finished... or is it a regular flat ?
BTC too much influencing as well I think... idd, looked too much like a pump and dump... should have been on previous high already... anyway, still following the old trendline... I dont think there will a lower low
alex_veg
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@Wolverinos, XRP has surged so much during the previous waves that needs a long and healthy correction. This is a triangle corrective pattern composed from 5 waves (a, b, c, d, e). Usually, in a bullish scenario, we can expect 2 waves up (b and d) and 3 down (a, c and e). I think waves a, b, c, d are done and wave e is under way right now.
If this is the case we can expect a lower low between today and tomorrow, before price starts surging suddenly and vertically.
Jakama
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you cant consider yesterdays dupm and pump for na organic cycle point. So I think point C is up there where D is and D will be around 3,0USD. And yes.. then probably will go to E @2,4-2,5
alex_veg
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@Jakama, thank you very much for commenting my post.
Corrective waves in a triangle pattern are really difficult to detect and understand until the correction is not over.
Price action overnight seems suggesting that wave e has started.
Is it a wave e or c ? We will see. The final outcome doesn't change. Target remain the same. We will have to wait just a little bit longer
Jakama
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@alex_veg, well yes, it's a mass. But probably you are right and we are on the to E point
alex_veg
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@Jakama, I really hope so. In this case we can expect a new ATH later in the week
Jakama
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@alex_veg, well this one now is hard nut? @Bitstamp spiked down to 2,03. but was it really E or just overstreched C? what's your opinion
alex_veg
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@Jakama, might be possible. We have to watch it closely. Only a huge increse in the volume can confirm an imminent break out from the upper trend line.
I think it is a good time for start buying. I recommend laddering your buying orders. Doing so, if we are going to have another wave down you won't miss the chance to buying for a cheaper price, while at the same, time if price starts surging suddenly you will be sure of catching the wave.
Of course this is just my personal opinion
Jakama
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@alex_veg, I started buying within thids last spike down to 2,03. I really hope that's it for some time on this level. keep up thegood work. tnx
BTC too much influencing as well I think... idd, looked too much like a pump and dump... should have been on previous high already... anyway, still following the old trendline... I dont think there will a lower low