Good morning

A quick update on the potential ending diagonal situation. Yesterday afternoon & overnight we saw a nice pop in the price of XRP (on nice volume). We did not take out the previous high out yet though, so the potential diagonal remains possible as follows :

While the diagonal remains possible, a lower low cannot be made in this scenario, because wave v has to stay shorter then iii, so the lowest it can go is 0,2954 or so, a level above the June bottom. This means that this downmove would end on a truncated low, that is no problem at all.

Well... we have to see if that wave v actually happens. From a wave counting perspectieve it would be nice to have a complete down count because at the moment I don't see a valid upward count.

I can see a count that would allow for a new low and it is also a diagonal but of the expanding type :

Because this diagonal is expanding wave v needs to be bigger then iii in this scenario, so that would mean we have to travel below 29 cents.

So what diagonal do you like best? 

Big picture remains what it was...  more important it the message of the big picture, it assumes we are near a bottom. Nailing the exact bottom is not that important, but it would be nice to see a complete down count at some point in the near future, that would give me a lot more confidence in an upward count. 

Have a good one!