Since january 28 2018 Ripple has fallen within a trend channel from 1,28$ to 0,25$. The negative trend channel has been tested several times on the upper side and also on the lower limit.
Within this trend channel we see a second one, beginning on may 06. This smaller channel led Ripple from the top of the longer trend to the bottom.
Has it been the end of the trend or only an intermediate break?
Taking EW for an answer to this question we see a corrective ABCDE- move, but still not sure if we have seen E or not.
RSI had been on its low, when Ripple had left the smaller trend channel for some days; so this could be a confirmation for we´ve seen the last low.
Nonetheless it´s still possible that we´ll see a second test of the lower limit of all trend channels. Why?
Because Ripple has a very high correlation to BTC and for BTC I expect a correction in the next hours / days.
So, Ripple can climb up with some volatility, without making new losses (it has to stay above the rectangle) or it makes a new low (within the rectangle) before climbing up.
The green EW-motive waves show the positive scenario, which also would end the long descending trend!
But this only would fit, if BTC also had ended the negative trend!; due to the high correlation.
And as I mentioned in my ETH-analysis we´ve got the chance that volume comes back to cryptomarkets due to turbulences at stock-markets.
Perhaps the second half of 2018 would be nicer than the first half (for cryptoinvestors).
Within this trend channel we see a second one, beginning on may 06. This smaller channel led Ripple from the top of the longer trend to the bottom.
Has it been the end of the trend or only an intermediate break?
Taking EW for an answer to this question we see a corrective ABCDE- move, but still not sure if we have seen E or not.
RSI had been on its low, when Ripple had left the smaller trend channel for some days; so this could be a confirmation for we´ve seen the last low.
Nonetheless it´s still possible that we´ll see a second test of the lower limit of all trend channels. Why?
Because Ripple has a very high correlation to BTC and for BTC I expect a correction in the next hours / days.
So, Ripple can climb up with some volatility, without making new losses (it has to stay above the rectangle) or it makes a new low (within the rectangle) before climbing up.
The green EW-motive waves show the positive scenario, which also would end the long descending trend!
But this only would fit, if BTC also had ended the negative trend!; due to the high correlation.
And as I mentioned in my ETH-analysis we´ve got the chance that volume comes back to cryptomarkets due to turbulences at stock-markets.
Perhaps the second half of 2018 would be nicer than the first half (for cryptoinvestors).