XRP update: completion of first impulse wave after bottom?
Updated
Update on XRP.
If we make one more high as indicated in my count and hold at the 0.764 retracement fib (0.75 USD), we may have a case for the bottom being in.
This would be an ending diagonal for the first impulse wave.
If the bottom breaks, then alternatively this was simply a ABC counter-wave retracement and we have lower to go before the bottom.
I am of the opinion that the bottom is already in.
If we make one more high as indicated in my count and hold at the 0.764 retracement fib (0.75 USD), we may have a case for the bottom being in.
This would be an ending diagonal for the first impulse wave.
If the bottom breaks, then alternatively this was simply a ABC counter-wave retracement and we have lower to go before the bottom.
I am of the opinion that the bottom is already in.
Note
Ending diagonal invalidated. Looks like a corrective structure. Once done I expect to break out to 1.20-1.30 region before dropping.
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