In the price zone 0.53-0.54, there was a large amount of liquidity before xrp started falling in early October:
and this price zone was an indicator of whether buyers could continue to grow. In my opinion, buyers failed their test and this growth has shown that correction after the growth of September 21 is not over.
Assuming that the current growth from October 11th was a wave of X, then it corrected quite a deep wave W, nevertheless I expect a fall of up to $ 0.46. If after this fall buyers will not be able to break through the price zone 0.504-0.514 - then there is a high probability that the correction will continue to $ 0.38.
At $ 0.38, the wave Y will be X * .786, and the wave "c" will be equal to the waves "a" (at wave Y).
Marginal buyer positions have decreased significantly:
Sellers are still passive:
Therefore, if buyers try $ 0.506 - I'll wait for the benchmark 0.46 and see if buyers have the power to hit $ 0.504-0.514. If buyers can not stick above this price zone, I expect a drop of up to $ 0.38