Its been a while since I have posted anything. With the constant sidways movement indicators become exceedingly difficult to utilize. With the 20%+ gain in the last 24 hours its time to look for the first pull back which should be happening today.
I have plotted the wave count as I see it, with Wave 5 ending at 0.32964. I can see further upside sitting around 0.33. This is both the HA(P+R1)/2 level as well as a resistance level from the end of July and the beginning of August.
As long as I have been watching Ripple, nearly two years now, it seems to have a hard time extending Wave 5 behind the 0.786 fib extention of Wave 3. This would still put the general end of Wave 5 only slightly lower than 0.33.
A retrace from 0.33 would pull back to just about 0.30, and being Wave 2 of the larger wave structure should be a simple ABC before the next series up starts.
That said... Ripple, the company, has not been kind to us with the reported dumping, so its entirely possible the end of Wave 5 will be the end of this impulse move upward and well see a push back down to 0.25.
Reports show that Ripple actually dumped yesterday. Surprisingly the market didnt seem all that affected and that has led to speculation that there is a large buyer and that the dump was done to benefit that player.
As always... be careful. This is only my point of view and, sadly, Ripple has proven me wrong more than once.
I still hold several positions from 0.25, 0.28, 0.31, 0.36 and 0.39 so I have an inherent bias.
I have plotted the wave count as I see it, with Wave 5 ending at 0.32964. I can see further upside sitting around 0.33. This is both the HA(P+R1)/2 level as well as a resistance level from the end of July and the beginning of August.
As long as I have been watching Ripple, nearly two years now, it seems to have a hard time extending Wave 5 behind the 0.786 fib extention of Wave 3. This would still put the general end of Wave 5 only slightly lower than 0.33.
A retrace from 0.33 would pull back to just about 0.30, and being Wave 2 of the larger wave structure should be a simple ABC before the next series up starts.
That said... Ripple, the company, has not been kind to us with the reported dumping, so its entirely possible the end of Wave 5 will be the end of this impulse move upward and well see a push back down to 0.25.
Reports show that Ripple actually dumped yesterday. Surprisingly the market didnt seem all that affected and that has led to speculation that there is a large buyer and that the dump was done to benefit that player.
As always... be careful. This is only my point of view and, sadly, Ripple has proven me wrong more than once.
I still hold several positions from 0.25, 0.28, 0.31, 0.36 and 0.39 so I have an inherent bias.
Comment:
Comment:
$XRP - Wave C of higher degree Wave 2 underway after lower degree Wave 5 tops out at 0.327. Target 0.302 before next impulse series begins. Potential for 0.294 but less likely. pic.twitter.com/3L6H6Jw5tY— Exsilium (@ExsiliumI) September 18, 2019
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Comment:
the correction wave could be ending here. this would be wave 2 of the higher degree structure, and as such is most likely going to be a simple correction ABC. it can be a more complex XYZ.
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it could end up like this...
Comment:
Possible ABCDE correction triangle forming.
