Crypto Contest June 1: Ripple
Ripple has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Ripple began a wave one advance on March 1. The wave one finished on April 2, and the wave two correction ended on April 20. The wave three advance finished on May 17, and the wave four correction ended on May 27. If this wave count is correct, Ripple should be heading next towards the May 17 peak in the wave five.
(Chart courtesy of Tradingview.com)
In the monthly chart, I believe Ripple is currently in the wave three.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Ripple will takeout the May 17 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Ripple will drop below the April 20 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 April 20 low and the May 17 peak until July 1".
You can upvote the comment until 3 PM EST June 2 and you can upvote only one comment. 50% of SBD 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 takeout the May 17 peak (25 voters as of 3 PM EST June 2: otisbrown, coinmaker, gregory-f, simonjay, kooshikoo, tuvokhl, allyouneedtoknow, steemquestions, sqlinsix, soundmoney, ikilledcobain, gduran, rxhector, starline, daniel.dalo, skririm, thatsweeneyguy, eirik, clodoweg, jznsamuel, dirty.hera, damla, timoshey, andy23, ilovefashion).
Should be an easy takeout... : )
Ripple will drop below the April 20 low (5 voters as of 3 PM EST June 2: me-tarzan, avarice, coolthings, cassidyandfranks, pinagpala).
Ripple will stay in a trading range between the April 20 low and the May 17 peak until July 1 (8 voters as of 3 PM EST June 2: twinner, spinbunny, razorwave8, yefet, mprgrmmr, mirda, ragnaros, fintekneeks).
You won.
Ripple will takeout the May 17 peak and will hit 40 cents by next week
It's more likely for Ripple to move up and fill all the buy orders that have accumulated on it's down move.
i am not an expert in wave theory, but third wave is longest of the five waves. I f i am right then fith wave according to your chart can't get ripple to previous high. There should be consolidation or corrective waves in between.
But as per simple chart analysis, ripple has completed its correction and started its new trend which is up uptill now.
Anyways upvoted and liked your analysis
Third wave is usually the longest, but not in all cases. The rule is that wave 3 must not be the shortest of all 3 impulsive waves (1, 3 and 5). Extensions are possible in wave 1 or 5, so wave 5 can be the longest wave.
Thank you twinner.
Thanks for the info
am in ripple all time, it will take out the may 17 peak and get to greater heights
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