RIPPLE (XRP) Update: Bullish she runs! Target still $0.541
SUMMARY
RIPPLE (XRP) is solid. Its Elliott Waves are Solid! The five waves (blue) was corrected by A,B,C (red) and trend has resumed up. Waves (i), (ii), (iii), (v), (v) are still in progress and target remains at $0.541 or so. There is also a semblance of a rounding bottom as indicated by the blue rounded line connecting the price bottoms. This pattern is called a rounding bottom and could form into a cup & handle so, it's something to keep an eye out. However, rounding bottoms can just break out as well, without forming a handle. I hope this is helpful and that I've earned your upvote, follow and or resteem!
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Good article, fingers crossed ripple can keep going. Cheers mike
Think alike, I'm seeing a prominent ascending right triangle in the hourly chart with a minimum target of 0.282 could be a nice impulse for a new wave I.
Thanks for the update.
asian whale club mentioned it too. check them out :)
Hi Haejin,
What do you think about the current XMR status? Ending wave 2?
Any advice how I could ladder my buy entries?
you said it can just breakout without forming a full cup & handle... break out heading upwards? I am assuming :)
BTW, Thank you very much for your imput
Yes, here is a link that explains roundidng bottoms:
http://www.investopedia.com/terms/r/roundingbottom.asp
Haejin Lee,
On a ripple website I sometime frequent, they been projecting things almost to the point of exactness. In a couple of posts they say ripple might go to $1-5 dollars in the next 12 to 15 months. is this just hyped BS or what? Of course anything is possible, but what are your TA thoughts. 🐈🐾❤️