Crypto Contest December 8: Ripple
Ripple has broken out of the wedge pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Ripple is in the wave three in the daily chart. The wave one started on the June 13, and finished on the June 14. The abc -correction ended on the December 2. If this wave count is correct, Ripple should be heading next towards the June 14 peak.
(Chart courtesy of Tradingview.com)
In the weekly chart, Ripple is currently most likely in the wave three. The wave one started in the September 2014, and ended in the December 2014. The wave two correction finished on the June 13.
(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 21 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Ripple will drop below the June 13 low".
If you think Ripple is in a range, upvote this post and upvote the comment "Ripple will stay in a trading range between the June 13 low and the October 21 peak until January 5, 2017".
You can upvote the comment until 3 PM EST December 9 and you can upvote only one comment. 100% of Steem (0.073 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.
Ripple will stay in a trading range between the June 13 low and the October 21 peak until January 5, 2017 (4 voters as of 3 PM EST December 9: helikopterben, twinner, spinbunny, cronk).
Ripple will drop below the June 13 low (7 voters as of 3 PM EST December 9: me-tarzan, bleujay, nextgen622, yefet, gregory-f, jamesbrown, fjccoin).
You won.
Ripple will takeout the October 21 peak (6 voters as of 3 PM EST December 9: otisbrown, landofcrypto, anotherjoe, michaelcorleone, soundmoney, adelja).
This post has been ranked within the top 80 most undervalued posts in the first half of Dec 08. We estimate that this post is undervalued by $8.54 as compared to a scenario in which every voter had an equal say.
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