I decided to give an update to my previous analysis of XRP.
I see two bearish possibilities. Currently, we are in a contracting triangle during the corrective phase. Usually, the price creates a ABCDE pattern, before it continues the trend. As such, we might expect it to go up one more time before it going down.
The other possibility is if the price decides to...
Currently the DJI is recovering from its previous run. As such, an opportunity would arise soon in the equity market. The DJI has entered Wave 5 and I believe it would fall to the levels outlined on the graph. As such, traders who like to trade Wave A have the perfect opportunity to do so. Furthermore, historically the DJI has always risen, so even if this...
XRP is in the beginning of Wave 1 on the 1 HR chart. Furthermore, the RSI shows oversold levels, where historically it has marked the beginning of other waves 1.
