Good morning

The drama continues, but XRP is doing what I expected, printing another zigzag in the lower direction. It is especially the drastic moves in ETH & BTC that brought panic across the crypto boards. The crypto haters are celebrating the end of the crypto bubble. While at the same time it is obvious that the elites have plans with crypto.

The crypto train has left the station, but we are probably seeing the transition from a speculative market to a market with prices based on use case. What we are now seeing is probably a much needed transition. A hard reset. Avoid the scam & meme projects , those coins did great in 2020&2021, but I think those days are over. 

Enough rambling, let me take a look at the XRP chart. Well it is not entirely clear where the "X" ended to be honest, but my best guess is that we had a triangle for "X" as we moved sideways for awhile, but after completion of the triangle we started impulsing down :

So based on that I expect a bit more downside for c of y. If so that c wave can be an impulse or a diagonal. How low? Dunno, but I am expecting some kind of correlation between the w & y waves. And of course there can still come a z wave after this (optional though).

In the big picture (check my previous update for a reminder) we have tested the trendline connection the 0 and the 2, but like I said in my last update, we can breach that trendline, that is no problem. But we cannot move below the December lows if we are in an expanding diagonal! That low came in at 0,1767 on the exchange neutral chart. Hopefully we come nowhere near that level.  My wave count gives me hope that we are near a bottom and that this is not the beginning of the end, and that helps in these difficult times.

That is all for now, enjoy your Sunday.

Chat soon.