Ripple came raging out of the gate in a strong move up over the past few weeks. Has it bottomed, or is this a fake out? So, far this is only a three wave rally according to Elliott Wave theory. However, if we can see it hold support for wave iv, we can see a final wave, and call this an impulse, meaning it has finally bottomed, and will see targets I've long held for the daily count (this part is reserved for subscribers).
I see the possibility that we have already started that final wave up in this phase. However, I'm bothered that it doesn't line up and have 'confluence' with my target at $1. Nor, is the price action as I write consistent with a third wave starting. So it may simply be that we are in red B.
Also concerning is that the WXY correction may be a leading diagonal, which leaves the question whether it is A of iv or 1 of a five wave impulse to the downside. That downside can even reach to 4 cents. So be certain that 45 cents must hold, otherwise, if it is broken strong all hell will break loose.
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