Ripple is now trading in a corrective framework that represents the triangle wave IV, which ended wave ((A)), ((B)), and ((C)), and currently the prices started to take the form of the impulsive wave to confirm the rise to form the wave ((D)) through the formation of the 1 2 1 2 pattern. The critical limit to be breached in this scenario is 0.11400.
Bottom Line: Higher in wave (A) of ((D))
wave ((D)) is underway, currently XRP is developing wave (A) of it, we expect a sharp move higher in wave ((iii)) of 3 of (A), critical support at 0.28704, key level at 0.32535
It is now trying to climb to start forming the wave ((D)) from the triangle wave IV after the wave ((C)) ended at 0.28704. The decline can continue as an extension of the wave ((C)) as long as it does not cross its critical limit at the bottom of the wave ((B)) at 0.17000.
As we mentioned in the monthly range, XRP is correcting in wave IV, We expect the price to rally in 3 waves to complete wave ((D)) of IV, critical support at 0.28704
XRP is correcting in wave IV, We expect a big contracting triangle in wave IV, critical support at 0.28704