Good morning,
Quick update on the recent price action....
After I wrote my post yesterday I noticed that the XRP price had exploded a bit, I stated in my post : "take notice , it is not entirely sure (b) is complete." Well, indeed it turned out (b) needed a little bit more time and became a flat and I immediately warned my followers on twitter :
For some urgent updates like that it might be interesting to follow me on twitter. It is extremely common for XRP to do a fake-out like that. After that flat completed the price tanked as anticipated.
So now the question, have we reached the bottom? I doubt it, but it is not impossible. We came close to a 50% retrace but just missed it. And a 50% retrace would be my first target, we can certainly correct deeper. It is possible that we only saw subwave (i) of c of Y at this point. Even if the zigzag completed there could be more downside after a bigger "xx" bounce. Some more price action is needed here.
After a few boring days the price action is becoming a bit more interesting and we are dropping to levels where I might get interested in adding some XRP to my longterm bag. Am I certain that the leading diagonal from the bottom is correct? No, so there is certainly some risk involved in buying the dips, a lower low can still occur. How you play this is up to you, after all my work is no financial advice and is for educational purposes only. But I hope you enjoy it and hopefully it is helpful.
Certainly an interest time for XRP, I will be in touch soon!
Lots of Love,
