Hello.... I am Xenne van der linde, trader/investor with many years of experience in counting waves.
You may know me from twitter, youtube or stocktwits.
I have decided to start a blog on this platform for my XRP wave counting, I will no longer be active on other platforms, at least not for $XRP updates.
I started counting XRP in late 2019, it was an experiment to see if crypto was countable... and I quickly found out it works very well... however you can not use a chart from an exchange, you have to use an exchange neutral tool like CoinTrader.
Anyways, not long after I started counting XRP we formed an important truncated low in March of 2020, that low was never breached despite some very bad lawsuit news that came later that year. News, events, etc it's all in the count. So no, the SEC lawsuit did not fuck up the count, it was meant to be like that..... news always shows up in the charts first!
Since the low it is unfortunately impossible to count an impulse, the only bullish potential I can see for XRP is that of a leading diagonal in the first wave or in the A position. That count has been on track for awhile and remains possible, so far it respect the rules of a diagonal. That said, there is no guarantee the zigzags that we see and count are actually fitting in a diagonal, it is impossible to know that and future will have to confirm the diagonal pattern.... or not.
Anyway here is the big picture for XRP :
Since the low we can count a triple zigzag for 1 or W, followed by a triple zigzag for 2 or X, a double zigzag for 3 or Y. The X or 2 can also be counted as a "WXY" with a triangle in the Y position, however this does not fit very well in a diagonal.
Since we printed the "3" high we have seen an overlap of the "1" high, this is required in a diagonal. While the overlap is there, the rebound so far appears kinda weak, so I think the decline is unfinished... and I am expecting an additional low or a truncated low, and that is where 5 will hopefully start. Wave 5 should be > wave 3, but shorter in time, that is one of the rules of an expanding diagonal.
Here is the recent price action, and as you can see there is room for some additional weakness to complete the Z wave :
That's all for now!