Ripple Prepares for Massive Shredding
Updated
I usually pay no mind to XRP but since BTC was so terribly slow today, I found myself with a little free time, so here we are.
This is a long term outlook based solely on Elliott Wave theory. After Ripple’s March 2020 swing low near $0.10, the market delivered a Leading Diagonal formation which produced a super deep Wave 2 correction.
Leading Diagonals (not including internal Zig Zag diagonals) give us the signal of directional change. With Leading Diagonals we can also expect a strong, possibly extended Wave 3.
Considering the relationship between Waves 2 and 4, with W2 being supremely deep, we can expect W4 to be much more shallow (and less frightening.
Granted, this is a long term outlook - all rules remain the same. Maybe it’ll be late 2021, maybe it’ll be early 2022 but Ripple looks to plant an All Time High near $10, in due time.
Currently under $0.40, this may sound like an absurd prediction. Elliott Fiinacci don’t lie though 😊.
Before Ripple takes off for the sky, the ABC correction for Wave 2 of 3rd must be completed. It also looks to be a very deep correction (expecting sub $0.30). See my prediction for this correction below.
Trade wisely.
Play it safe or play it smart.
This is a long term outlook based solely on Elliott Wave theory. After Ripple’s March 2020 swing low near $0.10, the market delivered a Leading Diagonal formation which produced a super deep Wave 2 correction.
Leading Diagonals (not including internal Zig Zag diagonals) give us the signal of directional change. With Leading Diagonals we can also expect a strong, possibly extended Wave 3.
Considering the relationship between Waves 2 and 4, with W2 being supremely deep, we can expect W4 to be much more shallow (and less frightening.
Granted, this is a long term outlook - all rules remain the same. Maybe it’ll be late 2021, maybe it’ll be early 2022 but Ripple looks to plant an All Time High near $10, in due time.
Currently under $0.40, this may sound like an absurd prediction. Elliott Fiinacci don’t lie though 😊.
Before Ripple takes off for the sky, the ABC correction for Wave 2 of 3rd must be completed. It also looks to be a very deep correction (expecting sub $0.30). See my prediction for this correction below.
Trade wisely.
Play it safe or play it smart.
Trade active
Now, is NOT the time to FOMO. While the takeoff for Ripple looks as if its already underway, the Wave 2 correction as outlined but first be completed. There are no bull or bear traps if you know what to expect.Next short term targets are around 0.45 > 0.35 > 0.55 > 0.25
The 0.25 area is where I will make plans to load up for the long hodl.
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Next medium term targets are around $1.86 and $3.10 (subject to change as the waves develop further).Comment
updated targets and formation:next targets 0.35 > 0.45 > 0.25 --
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Bulls will see 0.47xxx before drop.Comment
The .35 target was nullified as the B wave down was not a zig zag but instead, it was a flat.Within the zig zag move, Wave B can be any corrective pattern. Zig zag stretches the farthest, while flats stretch the least, for this portion of the correct (B Wave).
The drop to sub 0.30 is very highly still likely.
Comment
Break down cometh :)Comment
XRP now looks for $0.40-$0.41 on the drop for Wave 1 of C Wave.Trade active
misread the waves on the last post.bears look to break .40 soon enough :)
Join me on the waves, where its safe. discord.gg/QRPx6ShxMt
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