G'day

Hope all is well on your side. Crypto markets are still moving nicely and crypto portfolios are growing accordingly.  XRP is one of the laggers out there, only up 20% since early this year. Probably still a nice opportunity to buy, however I am done buying like I stated in my previous message, and I always stick to my plan.  Only when we get additional downside I will add to my bag, and hopefully that opportunity is not going to come. 777 days of patience was enough. 

At this point it is not certain that we have bottomed on February 14th though, we need some more price action. As stated before, the SEC charged Ripple on 22/12 (=7) - seven days later XRP bottomed at 17 cents, and 777 days later we may have put in an important bottom. Seven could be an important number for XRP, something to keep in mind for the future.

Let me assume we have bottomed, then we would have a leading diagonal, most likely in the (a) position... the low would then be a (b). So what we now need is an impulse for (c). And here is where XRP needs to surprise with an extremely powerful impulse.  So that is my task, trying to figure out if an impulse forms here... Needless to say we would be in the early stages. Let me look what we have so far :

The first problem, as always, is where does the upcount actually start? Because after the actual low it retested the low 2 times without putting in a lower low.  For me the best place to start the upcount is the 2nd retest on February 14th. It is possible we saw a small additional xx and a truncation at the low. From there we would have 3 waves up so far and right now we would be in a fourth wave, most likely taking the form of a triangle. What looks certain is that from the "3" high we have downward flat, this could be that (a) leg of the triangle (not overlapping the 1 high) or is it actually the entire correction? We have to monitor if a triangle forms and gives us an upward break out when completed. A lower low would most likely invalidate the potential impulse count. We have to remain cautious here, some more price action is needed.

Somebody asked me why I only count XRP - well doing a count is very time consuming and for me it works better to concentrate on 1 chart and follow it very closely then trying to figure out 25 charts at the same time. But XRP is not moving on it's own, when XRP count is bullish so will be the rest of the crypto market. And it is a good idea to diversify between some projects. My biggest positions (in € value) right now are XRP MATIC EGLD ADA VET ZIL ETH HBAR LINK QNT CHZ FET & SAND. 

Counting XRP started as an experiment in early 2020, I wanted to know if cryptos were countable.... I found out it is possible but you have to use an exchange neutral chart. Thanks for providing it, Robin De Baets! Exchanges have so many fake wicks that will fuck up your wave counts. But besides crypto I also count the E-Mini S&P 500 , because stock market is important for crypto - you really don't wanna hold crypto in a stock bear market.  

That's all for now, I wish you a relaxing Sunday and hopefully some more evidence of an upward impulse in the next one!

Lots of Love,