The current wave structure is indicative of a move higher than previously posted. My target has been adjusted to the 3-3.20 range.
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Updated to include sell area, (green circle) and showing a .5 retrace to the next buy zone (red circle on the right hand side)
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I know it's kind of hard to see with all the trend lines but we have the 20 MA about to move up through the 50 MA within the next hour or two.
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XRPUSD failed to break out on the 15 minute chart and it had a good opportunity to do so. Unfortunately the diminishing strength of BTCUSD -4.90% and the breakdown on this chart is carrying over to the other coins and affecting the price action. XRPUSD does have another opportunity to move up here at the end of this wave, however my fear is that the move maybe appear as a false break out now and that this will be mostly a sideways consolidation that could extend to the length of the previous two waves seen here. Which in the longer term does indicate a more stable base.
Ultimately, we are all waiting on the BTC -4.90% market to strengthen and it could get much worse before it gets better... make your decisions to stay in or withdraw accordingly.
Ultimately, we are all waiting on the BTC -4.90% market to strengthen and it could get much worse before it gets better... make your decisions to stay in or withdraw accordingly.
