Ripple could retrace back to around 50 cents if the wave count in the chart is correct. Wave B is now in progress after the completion of Wave A. Wave C is yet to start.
I assumed that Wave B will retrace to about 40-50% of Wave A and Wave C will extend to about 1.618 of Wave A.
Similar patterns can be observed in other cryptocurrencies but Bitcoin appears to be lagging Ripple and ETH and is currently completing Wave A.
Of course, these are just my thoughts and are not any trading suggestions.
Feedback welcome.
I assumed that Wave B will retrace to about 40-50% of Wave A and Wave C will extend to about 1.618 of Wave A.
Similar patterns can be observed in other cryptocurrencies but Bitcoin appears to be lagging Ripple and ETH and is currently completing Wave A.
Of course, these are just my thoughts and are not any trading suggestions.
Feedback welcome.
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Updated wave count:
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