XRP EW Update 12/12/2023 Upward diagonal count, Update


Good morning,

Well it has been awhile since I posted an update. I did write some smaller updates on X though. I think everything is playing out like expected so far. 
When I last updated we were in a 4th wave of A of an upward zigzag, I was expecting a 5th wave to conclude the A leg of that zigzag. There was some fake news going around and it was followed by a strong price peak, it provided a higher high and concluded the A leg, I immediately posted on X :

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Another run that ended on a trap, extremely common in crypto. At that point we had to look for a "B" leg. I think that B leg played out as a triple zigzag, from there a small upward diagonal was counted, potentially a leading diagonal but it can also work as a bearish triple zigzag. The correction after the diagonal was very short, probably too short.... it was followed by a pop but then price quickly came down. This can work as a flat correction after the diagonal. So yeah, if that is the case we should see a lot of strength from here in the next couple of days as a powerful C wave would have to be expected at this point, and this C wave should give us a new high. A brave call to make, we'll have to see if it plays out like this in the next couple of days. If we correct further we will have to assume that the B is still in progress, but time wise this does not work very well. 

Here is a chart, that might help :

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Because wave i of C was a diagonal the iii-rd wave can do whatever it wants, this means, there won't be degree issues if it is extremely strong. But this C wave will conclude the bigger diagonal that started in January, so this is not the start of a moon move, we are ending a structure and should expect a bigger correction when it completes. It is after that correction that I expect more upside.

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The price action in the next couple of days is very important, best case scenario we see a lot of strength, how high wave v goes remains to be seen, but we should at least expect a higher high - will it overthrow the trendline like diagonals often do? That is not sure...  But as I stated before wave i of the diagonal took more time then wave iii, this was not expected in an expanding diagonal. But if logic is respected wave v should be even shorter, this means it should have ended before Xmas. So a lot of things have to happen in the next couple of days...  

That is all for now, thanks for checking.

Yours,

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xennevdl
xennevdl

trader / crypto investor EW specialist, counting $ES_F & $XRP no financial advice, for educational purposes


XRP EW Price Prediction by Xenne van der linde
XRP EW Price Prediction by Xenne van der linde

EW specialist, many years experience in counting waves counting XRP since the end of 2019 no financial advice, for educational purposes if you wanna support this blog you send some xrp to rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh tag 105818781

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