SUMMARY
Ripple (XRP) is still in the basin phase. The left wall is complete and price is will within the blue rectangle. The basin phase is the second stage of the rounded price formation. Elliott Waves show that wave 2 is in progress. This should tage the white arrow line since it outlines the contour of the price bars. Once wave 2 is complete, wave 3 should give some excitement to the rest of May.
The MACD has not yet broken out and approaching the apex more closely. It has been traversing within the confined of the symmetrical pattern (blue lines) since the beginning of January. So, it's a pattern that's been 5 months in development. Once the breakout occurs, price action should become jar dropping.
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Elliott Wave Counting Tutorial #1
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Tutorial on the use of Fibonacci & Elliott Waves
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