Good morning,

A lot of excitement last Monday, XRP price did exactly what I was hoping, a huge UP-day, we came close to 50 cents, certainly felt like a third wave after the little diagonal. I bought hopefully my last small bag of XRP on that little pullback, could not resist. There was no real catalyst for the upside, but there was some positive news as Ripple filed a Letter in the Voyager case, this could help Ripple in its case against the SEC. That remains pure speculation at this point though, as we still wait for judge Torres to rule in the case.

After the rally of ~30% we did see a pretty huge correction of about 15% - I would have liked a smaller correction to be honest. We were looking for an upward impulse for "C",  if the recent correction is some kind of fourth wave we would need a fifth wave pushing us higher to complete the impulse.

Experience has learned me that 5th waves are sometimes extremely powerful for XRP. But even if it plays out like this, we don't know the degrees of these waves. Is this a terminal C-wave or is this just the early phase of a much bigger impulse? All we know is that if a 5th wave concludes we should expect a correction that is even bigger then the recent correction, that is the reason why I don't like the size of that recent correction so early on - in the best case scenario we should shift a degree and start making even more progress after that correction. But price action has to be monitored carefully in the next couple of days. Another scenario is that the fifth will conclude the C wave, but that there will be more upside after an "X" wave correction. 

Most important for me is that we print higher highs before April 19, 2023 - if that does not happen I will start taking profits and expect lower prices at some point. The bulls have the ball and can play a bit now, but they don't have much time!

Have a good one!