XRP - Price is down, will it go further
Aggiornato
Here we have an Elliott Wave study of the XRP correction, identifying a 5-3-5 zigzag in process of completing, with a final wave-5 to finish the structure. Some nominal targets are suggested from intersecting correspondences with the defining Fibonacci channel and Fibonacci projections of respective corrective waves, and the 0.786 retracement level of the prior rally.
What do you think? Will XRP drop further? If so, to what level?
What do you think? Will XRP drop further? If so, to what level?
Nota
An unexpected and very strong corrective rally in XRP has resulted in the need to reshuffle the projections and wave count a little. But as long as price does not break above 1.4781 the corrective structure is still intact. Here is what it looks like now in the daily chart:
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