If this current correction drags out (which I think it will), I will expect it to at least touch grounds with the 55 at around 3400 Sat and lower.
For those that have the ability to short...
Guys i forgot to mention that we hit our target on RIpple!
We targeted the 55 EMA on the 30 min candle and it hit right below our correction range (remember we added 200 satoshi, so our range was anywhere below 3700)
Congrats if you got in on that.
BUT, I think there will be plenty more opportunities to short this sucker. Like I said before, this thing will correct for DAYS. And DAYS is an ETERNITY in cryptocurrencies because you watch all of your friends go out and have fun while mommy says you need to stay in an clean dishes.
I think we will see an ABCDE correction here, with some few touches on the 3hr 55 EMA, with possibly even going under it for our E wave. I don't know how the hell the ABCDE wave will look, but I think our D wave will look like a fake breakout and everyone will be sadly disappointed when it happens.
There will be MANY opportunities to short this sucker. I think there will be another short opportunity very soon when Bitcoin starts wave 3. But Ripple won't see a dollar for a few days in my opinion.