RIPPLE seems already overbought, but my count suggests, that there is still a possibility for a huge extension.
If you see a price movement like this, expect yellow wave 5 to be around 7$ or higher!
The BTC pair shows even higher potential... But let's not get crazy about it yet.
I will calculate yellow wave 4 and 5 once yellow wave 3 is done.
For me this means, that I will HODL my XRP and monitor it closely, because there are a few other possibilities.
Why did I count it like this? Well, you need to be able to read the subwaves to come up with a count like this. I opened 4 different timeframes in XRP simultaneously and checked if everything would fit the subwaves and if it doesn't violate any Elliott Wave rule.
If you think this to be useful information:
Feel free to use and share my charts, but please mention me, as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
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