Good morning

It is nice when things go as planned, and so far I have not seen a surprise on the XRP price chart. In the first part of the week I noticed quiet a bit of FOMO buying and I warned my Twitter followers for a shake-out as I assumed we were in a fifth wave, as I presented in my update last weekend.
It played out like that, market topped Wednesday morning and since then XRP has been in a correction. Hopefully this correction is a 2nd wave of higher degree which will be followed by a powerful 3rd wave. But there is certainly a bit more risk now, after all, it is possible we only got an abc zigzag from the low that already completed. The price action in the next couple of days is very important, we need to see further progress, and hopefully a more aggressive price rise.

We know we don't have much time left though, that is a bit of a concern, XRP needs to print a higher high before April 19th - so I think we might need a catalyst, and the most likely catalyst is of course a ruling in favor of Ripple in the lawsuit. The specialists out there are expecting a ruling around this period, so it could certainly happen, but there is no guarantee it will happen. But count-wise it could be the right moment.

Count :

Since the low we have a leading diagonal for A, then a B wave correction - now we have 5 waves up - worst case scenario this completes the zigzag and the corrective. Best case scenario we have only seen i of C. In that case the ongoing correction would be a ii-nd wave and would be followed by a iii-rd wave that would most likely extend at least 1,618% - depending of where the correction ends will most likely see 86 cents or could extend to over 1 dollar on the next leg up - best case scenario of course. Anyways, since the 4th wave correction of lower degree was pretty nasty I did expect a pretty decent shake-out, if you bought the top you are down 13% as of now. Personally I am no longer interested in buying, my bags have been filled at lower levels, and I hope that I can take some profits soon. That is the nice thing about the big picture count, we might not have to wait long for huge profits. It still needs to play out though, and unfortunately I cannot guarantee anything. We are dealing with an extremely complex count, surprises remain possible.

Let me end this update with the big picture :

This count remains the same as presented before, the only problem is that the count needs a higher high before April 19th, the clock is ticking and a lot has to happen in the remaining days.... 

That's all for now.

Have a good one!