Crypto Of The Day: Ripple

Ripple has just broken the trend line in the one-hour chart.

(Chart courtesy of Tradingview.com)

In Elliott Wave terms, Ripple has most likely completed one cycle from the October 8 low. The five wave advance ended on October 10, and the abc correction finished on October 11.

(Chart courtesy of Tradingview.com)

Zooming out to the four-hour chart, I believe Ripple started the wave one advance on September 20, and finished the wave five on September 30. The abc correction ended on October 8.

(Chart courtesy of Tradingview.com)

Looking at the daily chart, I believe Ripple started the wave one on September 9. The wave one ended on September 15, and the wave two correction finished on September 20. Ripple is currently in wave three (sub-wave iii). If this wave count is correct Ripple should next take out the October 10 peak, and later the September 30 peak.

(Chart courtesy of Tradingview.com)

Disclosure: I am/we are long Ripple.

If you think this analysis is correct, upvote this post and upvote the comment "Ripple will takeout the October 10 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Ripple will drop below the October 8 low".

You can upvote the comment until 3 PM EST October 13 and you can upvote only one comment. 100% of Steem (0.014 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).