Gday

The triangle idea that I mentioned in my Sinterklaas update did not play out. While this scenario was bullish I always preferred the scenario that we were going to print another low to conclude a very time consuming 4th wave inside a huge expanding diagonal. Needless to say this count is very bullish in short & longer term, however some more pain was expected. From that low we would then have our fifth wave and that wave should not last more then 105 days - this means that after the low we should have a very bullish period for XRP.

Now a look at the recent price action, as I stated before the final zigzag could be a single structure and the c wave of the structure may only need one more low. The recent down count

Meanwhile the Summary judgment motions have been filed by both the SEC and Ripple Labs, this means we are waiting for a ruling by the judge in the case. In his last video Attorney Jeremy Hogan is speculating about the potential outcome of the case, you can see it here.

The best case scenario for XRP count wise it that we conclude the 4th wave of the diagonal in the next couple of days/weeks, at that point the upward 5th wave of the diagonal should commence, and it should provide a higher high, and it should not last more then 105 days.
The countdown starts when we print our low. And will it be a lower low? A truncation is possible but it must be possible to connect the "2" and the "4" without cutting candles off.

In the chart above I have connected that "2" with where Y ended - so the end of Z needs a price below that line - a price lower then 32 cents is okay. So while a lower low is possible the low can also truncate, which means we do not go lower then June, but the upward count would start from that location. Invalidation of this count if we fall below "2" 

That's all for now.

Good luck!