Cypto Contest October 31: Ripple
Ripple has broken the trend line drawn from the October 25 peak.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Ripple has completed one cycle from the September 11 low. The wave one finished on the September 15, and the wave two correction (abc) ended on the October 29. If this wave count is correct, Ripple should be heading next towards the September 15 peak.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, Ripple is currently most likely in the wave three. The wave one started in the September 2014, and finished in the December 2014. The wave two correction ended in the June 2016.
(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 25 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Ripple will drop below the October 29 low".
You can upvote the comment until 3 PM EST November 1 and you can upvote only one comment. 100% of Steem (9.967 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
Ripple will takeout the October 25 peak (11 voters as of 3 PM EST November 1: helikopterben, jamesbrown, bleujay, gamer00, majes, anotherjoe, idnit, digit, jdbry, fortinbuff, escapeamericanow).
Ripple will drop below the October 29 low (5 voters as of 3 PM EST November 1: me-tarzan, twinner, chahredine, yefet, maxedoutstats).
You won.
Is it Ripple or Rip-off? It's a decent currency if you have no problems with pre-mined coins.
Yes. I guess Steem is better in that sense.
Now we're talking.