Crypto Contest December 11: Ripple

Ripple (XRPUSD) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com)

Elliott Wave Analysis

In Elliott Wave terms, Ripple began a wave one advance on November 2. The red wave one (blue sub-waves i-ii-iii-iv-v) advance finished on November 28, and the red wave two (blue sub-waves a-b-c) correction ended on December 8. If this wave count is correct, Ripple should be heading next towards the November 28 peak in the red wave three.

(Chart courtesy of Tradingview.com)

Looking at the weekly chart, I believe Ripple is currently in the red wave three (blue sub-wave v).

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Here is the official video explaining Ripple.

(Source: https://ripple.com/)

If you think this analysis is correct, upvote this post and upvote the comment "Ripple will takeout the November 28 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Ripple will drop below the November 2 low".

If you think Ripple is in a range, upvote this post and upvote the comment "Ripple will stay in a trading range between the November 2 low and the November 28 peak until January 11, 2018".

You can upvote the comment until 1 PM EST December 12 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).