Good morning,

I heard that the hearing last night did go well for Ripple Labs, however the judge has not ruled yet on the fact that the emails have to be handed over, but it could come in the next few days I have been told. Apparently this is pretty crucial in this lawsuit, as the SEC will probably refuse to do so, and that could end this lawsuit in a settlement at some point. I am certainly not a specialist on the matter, but that's what the specialist say...

Back to the charts.

Before & during the hearing there was a pump, this kinda fitted with a triangle for wave "Y" idea, however there was a hard rejection. A triangle for wave "Y" remains an option though, but probably a bigger triangle.   

Is yesterdays smaller triangle still an option? I guess so, but it is pretty uncommon to see a triangle break out and then come back inside the triangle, also the advance looks more like a three wave move, but I am not ruling it out completely, but a bigger triangle is now more likely imho :

So it is possible that the current correction provides another higher low, but that could be the end of the correction. A confirmation would come if we take out the (b) wave high, if we are in a triangle we cannot travel below (c). Ideally we go low enough so that we can connect the end location with the "0" without cutting off any price action... 

This correction started 26 days ago, 26 days of sideways mess very complicated to count. The big waves of the last couple of days kinda make it harder to come up with an alternate count though.