Hi guys,
I've been playing around with some ideas for XRP, and I think this is the most likely scenarios for it. It's looking like it is about to begin (probably already has started) the final wave in a bearish bowtie diametric. The internal polywave counts appear to be all corrective in nature (ABC, ABCDE, ABCDEFG) which to me suggests that we probably aren't looking at an impulsive series for it, and instead it is a giant diametric.
That being said, three potential targets exist for Wave-G and they are related to Wave-A by either 61.8%, 100% or 161.8%.
That gives us the following targets:
-61.8% - $2.25
-100% - $10
-161.8% - $100
Now, due to the insane market cap that would be required for price to hit $100 on XRP, I'm going to throw that one out as highly, highly unlikely. I'm currently favouring the 100% option at $10, but $2.25 is reasonable also, I suppose.
There's some pretty decent bullish divergence coming out pretty clearly on my modified AO indicator (pink/purple line), so I'd say we're probably pretty near ready to get moving on XRP, if we haven't started yet (pretty sure we have, though). I've used a few trendlines/channeling to try to get a rough idea of where we might see the ABC form on Wave-G, but those are only guesses.
Once Wave-G concludes, expect a very significant downwards move on XRP, it'll go back to the stone age.
Not trading advice.
I've been playing around with some ideas for XRP, and I think this is the most likely scenarios for it. It's looking like it is about to begin (probably already has started) the final wave in a bearish bowtie diametric. The internal polywave counts appear to be all corrective in nature (ABC, ABCDE, ABCDEFG) which to me suggests that we probably aren't looking at an impulsive series for it, and instead it is a giant diametric.
That being said, three potential targets exist for Wave-G and they are related to Wave-A by either 61.8%, 100% or 161.8%.
That gives us the following targets:
-61.8% - $2.25
-100% - $10
-161.8% - $100
Now, due to the insane market cap that would be required for price to hit $100 on XRP, I'm going to throw that one out as highly, highly unlikely. I'm currently favouring the 100% option at $10, but $2.25 is reasonable also, I suppose.
There's some pretty decent bullish divergence coming out pretty clearly on my modified AO indicator (pink/purple line), so I'd say we're probably pretty near ready to get moving on XRP, if we haven't started yet (pretty sure we have, though). I've used a few trendlines/channeling to try to get a rough idea of where we might see the ABC form on Wave-G, but those are only guesses.
Once Wave-G concludes, expect a very significant downwards move on XRP, it'll go back to the stone age.
Not trading advice.
Comment:
Sorry for the clutter, the charts never come out how I intend when they get published, heh.