XRP (RIPPLE): Analysis Shows Correction Bottom Could be Near
SUMMARY
To this end, I wanted to share some attributes of the September 2017 correction and how it could have some fractal influences to this current recovery. A redraw of the correction into a bullish downward symmetrical triangle is quite impressive because of near termination status. It's almost done. The red ABC correction is a FLAT with subwaves showing the 3,3,5 in precision.
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. The Hurry Up & Wait syndrome has been in full effect. This is when the impulse moves near vertical and the correction phase slows to a crawl.
The horizontal blue lines show the presence of good support and the upper white trend line now also represents strong support.
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Great post! I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.
Thank you so much for these analysis :)
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