We could see a little more down to break the 0.34817 but I think it is getting ready to go up from here. On the 4HR we see the price being supported. On the 1 HR we have high volume coming in. We look to be coming to the end of a 3 wave correction before a break to the upside. If we break out of this we could see price going to 0.43+ region. Happy trading!
Trade active:
despite the pullback I still dont see the next up move as being invalidated. On the 1HR we could still see an Expanding Flat prior to another sharp move up. While BTC is showing possible signs of weakness, here on XRPBTC we see a bullish picture emerging. This could be one of those times where XRP decouples from BTC and makes an move up, while BTC remains stagnant.
XRPUSD
XRPBTC
XRPUSD
Comment:
We didnt see our move in XRP we makes us look again at the whole structure. Right now I am seeing this, with a Running Flat in the B wave:
Comment:
Looking closer at the C wave in this scenario, we would need to complete the correction which is currently underway, before making another drop. We could we seeing something like the correction from the A wave play out (see Black bar patterns)