Good morning!
The last day of 2022 just started here, and I wanted to give you a little update before leaving 2022, a very bad year for crypto! 2023 can only be better I assume (hope so anyways).
Not much is new since my last post really. The downside that was expected did come - as for the buying opportunity - it's probably still too early but I have my fiat ready on the sidelines, a good and last buying opportunity is hopefully coming soon.
I don't think the downside is over at this point, that is because I can count five waves down from where wave v of c probably started and it appears the decline is not over yet ; the fifth wave is probably the extended wave of the sequence, meaning we have only seen a subwave i of v so far - this means that more downside is to be expected after we finish the current (ii)-bounce. At this point it is also not possible to connect the "2" and the end of our recent decline in the big picture without cutting off candles. This fits with the idea that more downside is needed here :
So how low wil we go? It's important to understand that we are now on a subwave degree level, and that means that the bounces have to stay smaller and that the down waves (iii) & (v) have to stay shorter then the higher degree i-wave, a wave of about ~0,041 cents. At this point we don't know where the subwave (ii) will end though, but things should become more clear when we have more price action. Anyways, with the info that we have at this point the lowest price possible seems to be around 27 cents. The count can of course be invalidated if for instance the (iii)rd wave becomes larger then our higher degree 1st wave. That would mean something else is going on.
As for the big picture, the count is an expanding leading diagonal and our upcoming low would be the 4th wave. I hope this count is correct because it is extremely bullish - of course I cannot guarantee it. I do no offer financial advice, my wave counts are for educational purposes. Time will tell. Never invest money that you can't afford to lose.
If my count is correct it should not take more then 105 days to print higher highs after the low, it does not mean we have to moon right after we print our low, we have a period of about three months to make some serious progress. But yeah, let us first see if we can print a meaning full bottom in next the couple of days.
Good luck to all of us, hope 2023 will be better for XRP! Enjoy the last day of the year, I do not think we have to expect major price action on this day, I assume the down count needs a few more days to complete...
For additional urgent updates in these crucial days you might want to follow my twitter account.
Take care!
