G'day

XRP made a nice rally off its lows, while other cryptos were weak though. Eventually XRP also failed and just printed a lower low. This leads to even more frustration as this important low did not give us any reward. Meanwhile crypto markets are in total Chaos because of the collapse of the Silicon Valley Bank and the connection with USDC stable coin.  Is crypto going to rise from of these ashes? It is not impossible if we look at the count :

So I can only assume the triple concluded on March 2nd and was followed by a flat for "X" - now "Y" is in progress and we should count zigzags in the lower direction as usual, a C wave is now in progress and could be terminal. The structure from the high does not work as a diagonal so it can only be counted as a triple imho.

We certainly need a complete reversal of conditions since we are supposed to make a new high before April 19th. But I cannot guarantee that the diagonal from the lows (A) is the correct count, so I cannot guarantee that the January lows are going to hold. But as long as we stay above that level things could suddenly become bullish. I do not see any reason to panic at this point.

Lots Of Luck