XRP seems to be completing a head-and-shoulders pattern with the left side the completion of a 5-wave
structure and the right side the start of the A-B-C correction. If this is the case, then a measured move gives the C completing at the 78.6 fib, which has been a very common retracement level in crypto this month. 78.6 also has a nice confluence with the 200 EMA
. So the key is for it to break below the neckline, which is also the 55 EMA
. If this happens, laddering buys in the green zone could give a good entry. If it bounces at the neckline, then we have a truncated C or it could be a running flat, before the start of another impulse moves. Obvioulsy BTC
sets the tone, so keep it in your sights.
** trade at your own risk; this if for education purposes only **