Ripple just broke below the last low at 0.295 and just printed a low of 0.28401.
Do NOT panic here.
I have adjusted the wave count, each point down one count. This lets the retrace from Wave 2 hit the 0.382 fib retrace nicely and Wave 4 hits 0.50... which makes this Wave 5.
As noted before, Ripple Wave 5 is generally very weak, rarely passing the 0.786 fib ext which would put this move at 0.27976 at most, if it already hasn't printed its low after hitting 0.618 fib ext at 0.28915 and the price action while I type this indicates there is a high probability that is the case.
In addition, the Bullish Divergence has now printed twice.
Ripple is holding against the onslaught of the rest of the crypto market, only falling 6.5% while the rest of the market is down between 12 and 14%, with XRPBTC gaining 5.4%.
0.28 is a very strong level. One of my largest purchases was at this level months ago. If it does break were looking at a retest of the low at 0.24, and a break below that would be game over.
For the record, I still hold positions from 0.28, 0.31, 0.36 and 0.39 and have a bullish bias.
Do NOT panic here.
I have adjusted the wave count, each point down one count. This lets the retrace from Wave 2 hit the 0.382 fib retrace nicely and Wave 4 hits 0.50... which makes this Wave 5.
As noted before, Ripple Wave 5 is generally very weak, rarely passing the 0.786 fib ext which would put this move at 0.27976 at most, if it already hasn't printed its low after hitting 0.618 fib ext at 0.28915 and the price action while I type this indicates there is a high probability that is the case.
In addition, the Bullish Divergence has now printed twice.
Ripple is holding against the onslaught of the rest of the crypto market, only falling 6.5% while the rest of the market is down between 12 and 14%, with XRPBTC gaining 5.4%.
0.28 is a very strong level. One of my largest purchases was at this level months ago. If it does break were looking at a retest of the low at 0.24, and a break below that would be game over.
For the record, I still hold positions from 0.28, 0.31, 0.36 and 0.39 and have a bullish bias.
