XRP has finished 5 waves to the upside in a wave I towards 3.40
The second wave was a flat ABC as the most probable count, especially when looking at volume.
In this scenario, we are now ready for a third wave up in 5 impulse waves towards the golden fib target (1.618) at around 5.30
Other scenarios?
before the crash of october 10th, my count was les bullish. I had a wave I and II around 0.50 and the move towards 3.40 that is now my wave I, was my wave 3. Then a flat ABC in a wave 4 and was looking for a last leg up towards 4.20. BUT the crash invalidated this setup because a wave 4 is not allowed to touch the 0.618 of wave 3 which it did. Thats why current scenario is the most probable.
A bearish scenario would be another (bigger) crash towards 0.80 where wave 2 would touch the 0.88 fib level of wave 1 to be invalidated as this is not allowed in an impulse. Till that happens, the current setup has the most probability, in line with macro events like the spot ETF, Ripple Prime, rate cuts and quantitative easing.
Share your opinion! Peace!
The second wave was a flat ABC as the most probable count, especially when looking at volume.
In this scenario, we are now ready for a third wave up in 5 impulse waves towards the golden fib target (1.618) at around 5.30
Other scenarios?
before the crash of october 10th, my count was les bullish. I had a wave I and II around 0.50 and the move towards 3.40 that is now my wave I, was my wave 3. Then a flat ABC in a wave 4 and was looking for a last leg up towards 4.20. BUT the crash invalidated this setup because a wave 4 is not allowed to touch the 0.618 of wave 3 which it did. Thats why current scenario is the most probable.
A bearish scenario would be another (bigger) crash towards 0.80 where wave 2 would touch the 0.88 fib level of wave 1 to be invalidated as this is not allowed in an impulse. Till that happens, the current setup has the most probability, in line with macro events like the spot ETF, Ripple Prime, rate cuts and quantitative easing.
Share your opinion! Peace!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.