Gday all

It's been awhile since my last post, not much has happened since then really. In my last message I concluded that we potentially printed an important low for the XRP price and that I will do an attempt to count upward from there to see if it works.

So said so done, but since then price has moved sideways. The potential of an upward count is still there, but there's no confirmation that we are indeed in an upward count. The good news is that XRP did not print lower lows as of now, so the upward potential is still there.

A look at the recent price action :

It's a pretty complicated mess but from the low it appears 5 waves up can be counted, the price action that followed that wave is harder to figure out. One idea that is on my radar is that the initial five waves up are a or i and that we are now working on a b or ii wave.  This corrective wave would be a flat making a new high while correcting and now in the c leg. An impulse was expected for this c but because we have an overlapping mess I am now thinking of a diagonal in the c wave position. We have to see if that diagonal forms properly in every aspect , but as always if it does form we don't know if the diagonal will be leading or ending.  Of course an ending diagonal would fit in my bullish case, but that would also mean that we have to retrace the entire diagonal in less time then it took to form.

Bigger picture :

Nothing has changed. As you can see we have three degrees of zigzags, from low to high : yellow, green & blue. So if a small upward zigzag would form from the recent low it could be a small yellow degree zigzag part of a higher degree zigzag. How higher the degree the bigger price movements we can expect. It's a very complex count unfortunately and very hard to predict future price action.

Like I said last time, it is also possible to count the recent WXY as a "4" (as part of an expanding diagonal (alternate count)), if that count is correct the "5" should have completed before March 21st of 2022. 

Well that's it for now, to be honest it's a bit wait & see for the moment, hopefully we'll see some more price movement in the next couple of days that confirm the upward count.