Not Trading Advice
Forget The Duck
I am stickin with the chicken
Cause that's one fine bird
The Elliot Wave 5 wave pattern is present throughout trading history. Successfully predicting 5 wave patterns is a blessing.
The current fractal has proven so far to be different than 2017 where we had a quick/fast 2 wave and a drawn out 4 wave. This, I would argue, is good. Currently this 2 wave is more drawn out. We can then expect 4 to be quick. We see in trading history that this 2 & 4 wave switch often occurs in repeating fractal like 5 wave moves.
Fundamentally, crypto wise, BTC dominance will wain - it remains to be seen if the XRPBTX chart undergoes a complete and total phase change - there is a small probability here. My heart will always be with BTC from a benchmark old Daddy standpoint but one must be cognizant of the a possibility of a complete dominance switch. (The Sigma Wolf is whispering to the She-Wolves and prompting a change in the Alpha of the pack).
I do not hold to the Market Cap argument when it comes to a global crypto currency that is truly DECENTRALIZED (due to its consensus protocol & Escrow parameters), interoperable, cost effective and fast. XRP is not a stock. The numerous XRP ETFs applications are waiting in the wings could be a game changer in very short order. Remember, Fidelity was mining BTC in 2018 - I sold them some of my BTC miners to do so and they mined in the facility in our startup.
Some of the current - really good - chartists are pulling back their XRP projections. Understood. I am not in that camp. I respect the $13 - $27 projections. 5 wave history does point to projections that are much higher once you shed the shackles of the market cap argument.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.