G'day

Hope all is well, it's about time we take another look at the XRP price chart.

So the potential bullish count in XRP is that of an expanding leading diagonal, however this pattern must form properly, and for now it is just an assumption.  We know that the 5th wave of the diagonal much be shorter in time then the 3th, this means that the pattern must be complete by early November 2021. We also know that the 5th wave must be larger in price then the 3th wave so the min. target for this 5th wave is around $2,30. The fifth wave can be a double or a triple zigzag.

Visualization of the expanding diagonal potential : 

So we have a bit more then one month to finish the potential pattern. IF (and only IF) the patterns forms properly it is a long-term bullish count for XRP, in fact most gains can be expected after the pullback that will follow the diagonal. However since this pattern started in March of 2020 it took more then a year and a half to form, so it will probably be followed by a long (possibly deep) correction before the next leg up. It might be wise to take (partial) profits when the diagonal completes (IF it plays out like that anyways). IF the diagonal fails to form properly the next best count is that of a double zigzag up that completed with the April high. 

When we take a look at the recent price action, since the July low (potentially 4 in the diagonal) I counted a zigzag up, it was followed by an abc lower that completed this week, this is potentially where X completed and a new zigzag up starts. However the reaction from that low is pretty weak so far, so it is possible that another zigzag lower will occur and give us some lower prices before we go higher, remains to be seen if the recent low holds or not.

So needless to say we are in a very interesting time, the diagonal has to prove itself to be the correct count in the next couple of weeks. Hopefully the pattern will not fail miserably.

Good luck!

Xenne