I have different XRP scenarios, and this one was my 3rd likely scenario. It may quickly become my Primary scenario depending on what XRP does next. This one is the most bearish and is very possible.
Notice I labeled the minor blue B wave as being a Sideways Double Combination (WXY). I had never considered this before, since it has such a slant to it. But, interestingly, the A wave of the triangle was an impulsive looking wave that only had a 123 count, never finishing with a 5. So, possible it pushed the triangle up higher than typical for a Sideways Double Combination.
This scenario would form a clean Sharp Double Zigzag (WXY) pattern within a Schiff pitchfork to finish the bear run ending in a clear cut capitulation to 17 cents.
What to look for going forward if true: I would expect the RSI to drop once more in sync with the minuette orange (III). At that point, I would think the RSI would start going up, while XRP does the final plunge for the minuette orange (V) showing a bullish RSI divergence on the daily as your signal to buy.
I rarely post here, as I post charts elsewhere. But thought I would share this.
Notice I labeled the minor blue B wave as being a Sideways Double Combination (WXY). I had never considered this before, since it has such a slant to it. But, interestingly, the A wave of the triangle was an impulsive looking wave that only had a 123 count, never finishing with a 5. So, possible it pushed the triangle up higher than typical for a Sideways Double Combination.
This scenario would form a clean Sharp Double Zigzag (WXY) pattern within a Schiff pitchfork to finish the bear run ending in a clear cut capitulation to 17 cents.
What to look for going forward if true: I would expect the RSI to drop once more in sync with the minuette orange (III). At that point, I would think the RSI would start going up, while XRP does the final plunge for the minuette orange (V) showing a bullish RSI divergence on the daily as your signal to buy.
I rarely post here, as I post charts elsewhere. But thought I would share this.