XRP (RIPPLE): Analysis: Uptrend is Confirmed for Now
SUMMARY
The red ABC waves have been labeled and the subwaves fall well into place. The price neared the upper white line, I had posted a criticaljuncture alert and noted the significance of breaching the upper white trend line. When drawing chart patterns, I do take liberty in cutting out or ignoring some price wicks as you can see, the tallest wick is not considered for the pattern or Elliott Wave counting.
With Cryptonians are well aware of how deep retracements can be but also how quick the impulse can go vertical.
IF price decides to get closer to the Apex; the destination would remain little changed; only the pathway would differ. Even into this upward wedge; the seller repletion just was not enough to fulfill the wedge price travel guidance.
IF price goes below the upper white trendline and stays there, then we have a different scenario and analysis will be updated.
Legal Disclaimer: This post is for general information only. No information, forward looking statements, or estimations presented herein represent any final determination on investment performance. While the information presented in this post has been researched and is thought to be reasonable and accurate, I cannot and do not guarantee any rate of return or investment timeline based on the information presented herein.
Congratulations @hahajin! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
To support your work, I also upvoted your post!
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP