SUMMARY
RIPPLE (XRP) is correcting and nearly complete. The below chart shows that five wave impulse (white waves) were completed and so an a,b,c correction is required. That correction is currently in its late stages as shown in below chart. The pattern is also a bullish downward pointing symmetrical triangle. This means that once the red wave c is complete; the original trend should resume...UP!
Here is a closer look at the correctional waves. I've labeled the subwaves of the a,b and c. IF there are five waves complete on the C wave down; then the correction could be complete. However, there is likely a one more, smaller, lower low.
This chart shows how that one more lower low could look like. What does this mean? Simply a slightly different pathway but same destination...UP! It would be an attractive zone to cast a buy ladder; hence, deploy some of the 10% cash holdings to BTFD!!
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?
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