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SUMMARY
I've made the video for this analysis very instructive and didactic. So, you might benefit from it as it could help and reinforce seeing the process of my analysis.
Below is the XRP/USD pair and I've counted the impulsive five waves (white) and their sub waves (blue). The subwaves provide the geopositioning of your Elliott Waves and also seve as good quality control for your counts.
Never forget the "Hurry Up & Wait" syndrome that every crypto has. That means that the impulse waves are put in with zero waste of time! The subsequent corrections, however, take forever! Look how the correction on Ripple has been draggin out. I've labeled this very complex, combination correction using Elliott Waves.
I've also added the channel lines and the key is for price to breach the upper white channel line and once that completes, Elliott Waves should take price to $0.567 and most likely higher!
Here is the XRP/BTC pair and here too, I've labeled all subwaves of both the impulse and the a,b,c correction. By preponderance of evidence, the bottoms is likely to be complete. The White impulse waves should that price to 0.00015802 BTC or higher!
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
I believe Ripple will sky rocket this new year up over $1000
but I do believe I can buy more at:
.21 cents
.2025 cents
.1955 cents
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About time. Seems like LITECOIN and XRP have been the dark horses of the TOP10 for far too long now.
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The only question now is how high can they go? 😊
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There´s no limit in crypto ;)
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This is very good analysis. You are very gold with technical analysis
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Thank you Haejin! Indeed, after the huge increase of about 4000% in May XRP seems to consolidate in the price range of 0.15-0.30usd. Although I anticipate the same upward move as Haejin, I think it could come later than we think. XRP has surprising moves. I think it will grow when no one is expected. However, the longer it takes, the better. The impulse upward is likely to be stronger than we expected.
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The market emotions make the news.
Probably this has a bearing on the XRP escrow news too.
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Forecast confirmed by the news! Thank you Haejin.
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hey haejin thank you for the detail analysis! I have one question i don't think you've mentioned before... whats the difference of point (e) being on the bottom on a triangle than the (e) on the channel? why can we start the impulse on the last (e) inside the horizontal channel but be worried that correction still happen during point (e) of triangle??
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as per my understanding ripple can go 0.00005700 satoshi till Jan 2018 as xrp is freezing in dec end which will take price to up word movement.
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escrow already happened
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I know but it will take some time for upward movement because currently the eye catcher is bitcoin. and miracle don't haven in fortnight.
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It's supply is always the issue !
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When it grew by 4000% in May, was not it the same offer? Has the offer been a problem for huge growth? Why would the offer be a problem? Yesterday Escrow blocked 55 billion XRP.
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I got burned by ripple so many times as a rookie already that I'm not even sure what to make of it now. However, the eacrow is happening and it WILL push the price up regardless. This will confirm @haejin TA.
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Xrp has been a major major disappointment all this while. Infact I sold off a few yesterday, disgusted with its indolence.
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I liked the $30,000 price target before you lowered it to $0.567 :D Thanks for the analysis.
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Haejin, thank you for taking more time explaining details on this one. I was missing some pieces of the puzzle and you just filled them in for me. Your lessons are better than a college education. Many thanks!
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I wish you MASSIVE profits!
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seems you have been bullish on ripple for months,but it's still corrrecting...I know it's hard to project time as you say but...we shall see if this is the bottom.
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I really really want you to be right about this :) I like ripple and their actual company behind XRP that´s working on real use cases.
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Hi Haejin, thanks for the update! Just a couple of questions...On the C wave of the correction you have wave 4 overlapping wave 1. ..is there ever a case where this rule can be relaxed? Also should the triangle "e" being on the bottom have signaled the price to go up and not down?
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It's time for XRP to catch up with the rest of the Alts!
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I read somewhere, that it's imposible for ripple to scale up, because its ment to be on an steady price, more than an speculative asset, So, they have some trading bots that corrects the price if goes to high,
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God bless You haejin.
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Thank your for the excellent educational video.
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