XRP, along with the rest of the crypto market, may complete an ABC correction structure with a final capitulation extended wave, thus making it a 3 drives pattern.
The recovery may then consist of a third wave that wipes out the B wave high of the initial ABC correction, thus confirming the continuation of the bull trend.
A smaller Wyckoff accumulation may also take place with the spring being around the 80c level.
The 5-wave Elliott count is subjective and will differ, the third wave regaining the B-wave high is what matters.
Entering on the break of the C wave low will render a good risk reward ratio, however entering on the break of the pattern is safer and less aggressive.
The recovery may then consist of a third wave that wipes out the B wave high of the initial ABC correction, thus confirming the continuation of the bull trend.
A smaller Wyckoff accumulation may also take place with the spring being around the 80c level.
The 5-wave Elliott count is subjective and will differ, the third wave regaining the B-wave high is what matters.
Entering on the break of the C wave low will render a good risk reward ratio, however entering on the break of the pattern is safer and less aggressive.
Komen:
XRP didn't manage to create that third low, although some other coins like BCH, LTC and BNB did. Slightly different structures but basic idea of a wyckoff accumulation being completed seems evident all round. Bull run ready?
