WES-T

XRP correction may not be over yet.

BITSTAMP:XRPUSD   XRP / U.S. Dollar
From March 13 up to August 17 Ripple has traced out a bearish zigzag disregarding everything else on the chart this pattern by its self should lead to another decline. If March 13 is actually a major low then the next allowable count if overlap occurs would be 1,2 1,2.

Note: It's possible to label a chart multiple ways consider all wave counts and all forms of analysis to form your own conclusion.

Comments

If one were to disregard the fundamentals (global payment settlement regulation and XRP commodity acceptance), and if one were to disregard moving averages, RSI and MACD, then you could conclude what was done here. My opinion is significantly in opposition but I appreciate everyone’s analysis.
+4 Reply
Your chart is quite scary as it is a valid count. Nice work. I would note some bullish indicators too. (1) XRP formed a reversal diamond. (2) XRP broke through the 200 day MA just like in 2017. (3) XRP is duplicating the 2015 to 2017 fractal, just longer in time. (4) XRP broke above the trend line and is riding on top of it, just like in 2017. (4) RSI showing bullish divergence on the daily.

Notes:
The second wave to $3.2 is definitely a 12345 pump. Not so evident on my chart as I use Polinex, which has ratty data.
I stole your (i, ii, iii, iv, v) descending triangle. Thank you. I like that.
Everyone is calling the wave from the 14 cents an ABC. I don't believe that. I think we have a truncated wave 5. This would put XRP in line with what the other alt-coins are doing. Almost all are finishing wave 2. It would also put it in line with the 2017 fractal, which it has matched to this point.

+2 Reply
@gz1968, Simply WILL happen
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Gaengphed ThumbSkin
@ThumbSkin, Ah! There you are :-)
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The wave count is difficult but we have not seen divergence on Weekly rsi so probably we have not seen the bottom yet but it looks close
+2 Reply
As long as he does not break the channel, he is falling according to what you drew. Thank you for participating
Reply
gz1968 Saeed966
@Saeed966, I would be worried if it went below the trend line.

Reply
dreams with out limit!
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