It appears that Ripple has completed five waves and is now in the A wave of a corrective ABC pattern. Of course, it is not a trading suggestion.
Comment:
Update
Trade closed: target reached:
Load new bars in the chart posted above on May 6 and hit like if you think what you see is unreal!
Comment:
Ripple is trying very hard to hold the 62% retracement level touched on 11 May despite a lot of negative sentiment about cryptocurrencies, which is a sign of strength. Ripple could move up from here if it is successful in holding this level for a few more days, but if it fails then it could go down to 57 cents (78% retracement level). Keep an eye on the Bitcoin movements.
