Good morning

It appears the diagonal concluded in the 1st wave position of C, and we are now in a correction for wave ii. This was what I expected to see, however I was surprised to see it push as high as $2,9. The expectation now is that the price will cross the diagonal trendline again and that we see a conclusion of the correction at some point, followed by an upward third wave. 

The recent price action with the conclusion of the diagonal and the correction so far :

It appears the wave ii correction is a flat wave (3:3:5) and the c-wave appears to be another diagonal, most likely of the ending type. That means that when the diagonal completes we will hopefully see a violent reversal in the upward direction. Well that makes sense because that is exactly what we need to see, a strong upward move in the 3rd wave position - the strength should be obvious. And because wave 1 was a diagonal the third wave can do whatever it wants, yes - it can go as high as it wants without degree issues - that is the power of a diagonal. If everything goes as expected we'll then see a fourth & fifth wave - the fifth wave will conclude this abc and that is certainly a place where some profits should be locked in. But yeah, we aren't there yet. And a reminder, nothing in this blog is financial advice... just sharing my work and hopefully it will prove that counting waves really works.

Because the diagonal is extracting wave 5 > wave 3, and should also take more time. So once wave 4 has concluded you can calculate a minimum target for 5. Unfortunately it's impossible to know where it will end, but it will most likely try to take stops out before rising, especially on the exchanges. 

Big picture, we came close last week, but we didn't cross the diagonal trendline yet.... I still think it will happen, most likely next week. And it will conclude the flat and hopefully also the correction, but that is not entirely sure because the correction could become more complex and take more time. I am a bit scared for this scenario because we know that XRP likes to spike and then go to sleep. What we want to see is a lot of strength, it should be obvious we are in a third wave.

Ok, that's all for now, I hope this helps... lets see what we get.

Best wishes,