XRP Ripple Gearing Up For A Correction

Hey Everyone, Schyler here with NewWave Traders.

In this chart I'm projecting XRP to experience a correction mid term with continued upside. This dip will be for buying in my opinion.

Bearish divergence between the 3rd and 5th wave as well as wave structure supports this bias and some TDI signals on top of that.

Let me know your thoughts in the comments below. Are you invested in XRP? Do you just trade it? Would you buy this dip I'm projecting?

Look forward to your answers below.

Commentaire:

And there's the correction, dropped faster than expected, which means its either the first leg of the correction or its the C wave of an expanded flat. First leg breaking the previous 4th wave low is typically a bearish sign for another leg to match up with it and sweep those lows again.

Will need to wait for the B wave formation before another update.

Commentaire:

We got the expected black abc pullback on XRP, however, our rally thereafter was corrective which shifted the pattern to corrective and invalidated any impulse to follow thereafter. An easy update for this one at the time. We've now moved into a complex larger timeframe bear market and just been stuck in a descending range. Likely this asset will continue like this until the court case comes to a decision at which point maybe we'll finally see this asset create a decent higher tf trend cause historically this is a pretty choppy crypto.