- IMHO we are currently completing the 2nd wave of the larger 5th wave. I assume we will break above the blue line by mid-2023; we will consolidate above or below channel median line for a while and then continue for completion of 3rd wave of the larger 5th wave (hit top of the channel).
- After that XRP is going to retrace for a while (similar to what BTC is going through right now) and then the final push to the upside.
- Usually the larger 3rd wave and 3rd wave of the larger 5th wave are aligned (they both hit top of the channel), so I expect for XRP to hit $30 (top of the channel) in about 1.5 years.
- For completion of 5th wave after the retracement we will see 100+ XRP and overshoot beyond the channel.
- As you can see price has perfectly reacted to the lower and median line of the channel so far.
- Based on the height of MACD bars for XRP at $3.3, it has probably completed the Main 3rd wave and the wave count for the future price action is based on that.
- Price action lower than the previous leg down invalidates this idea.
- After that XRP is going to retrace for a while (similar to what BTC is going through right now) and then the final push to the upside.
- Usually the larger 3rd wave and 3rd wave of the larger 5th wave are aligned (they both hit top of the channel), so I expect for XRP to hit $30 (top of the channel) in about 1.5 years.
- For completion of 5th wave after the retracement we will see 100+ XRP and overshoot beyond the channel.
- As you can see price has perfectly reacted to the lower and median line of the channel so far.
- Based on the height of MACD bars for XRP at $3.3, it has probably completed the Main 3rd wave and the wave count for the future price action is based on that.
- Price action lower than the previous leg down invalidates this idea.