Gday
Let me start with wishing you a Happy 2023! 2023 may have started nice for XRP.
An interesting flash crash happened overnight, the XRP price dropped low enough - it is now possible to connect the "2" with this recent bottom without cutting off any candles. I have said it many times, a new low was not required, a truncated low was certainly a possibility.
As you can see above, the line from 2 to 4 is staying below the June lows and not cutting off candles, so this is a potential bottom. Take notice that wave Z is a single zigzag as of now, it if wants it can extend in a double or triple. I stated already that it's pretty common to see a set of zigzags end with in a single zigzag for Z. But this needs to be confirmed. If this zigzag did indeed end the least we can expect is a higher degree x bounce.
On the squiggles count I may have made a small error in the count for (v) of v, due to that mistake I missed this bottom. Oh well I bought at the June lows and it's not that you could buy cheaper last night.
Zigzag most likely ended... can it still go lower? Well one option that is still on the table is that c of Z is actually an ending diagonal and the current bounce would be b of iii. If so that will give us the chance to add some more XRP at lower levels, but it is no guarantee at this point!
That's all for now.
Take care,
