Not much has happened since my last post, the price is still around the same level. The count assumes we are in wave a of Y,  this sequence started with a leading diagonal. Recent break-out attempts have failed. But I see no reason to panic...  it feels like we are correcting after the leading diagonal but in a strong/sideways manner, the market is impatient to go higher but it is just not the right time. As an XRP investor you should be a patient person and hopefully you'll be rewarded at some point.

So let me take a look at the recent price action.... 

What is going on AFTER the diagonal? It is complicated, but I see no evidence that a 3rd wave is in progress, I think we are still in a 2nd wave. Keep in mind that whatever happens the end of "2" must overlap with the "1". One potential I see is that the correction is a WXY with a triangle Y-wave. This would be a running type of correction, but this is pure speculation at this point. Unfortunately corrective action is sometimes hard to predict.  But in case of a triangle  Y it has a very narrow range to end because the e leg of a the triangle should end below 1, but cannot break below the a & c waves of the triangle. It remains possible that there will be a shake-out kind of wave before the next leg up, keep that in mind.

In regards to the big picture, nothing has changed. I still think it would be logical that the "Z" leg will be the shortest leg in time and longest in price of the potential diagonal, the clock is ticking in that regard. If you are new to this diagonal idea you should read my previous posts.

That's it for now... hopefully some better news in the near future. Additional updates might be posted on twitter @xennevdl from time to time. (not always time to create a blogpost in the heat of the moment).

Good luck.