XRP / Ripple Wyckoff Accumulation into the 3rd Wave
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I've been keeping a close eye on XRP since its retracement from 1.96 and have begun to take interest in the Wyckoff accumulation it seems to be working through.
My thoughts are we will hit the 'SPRING' at the 400D MA sat around .50 before as BTC drags down the market, we begin an A/B/C correction heading into our most impulsive wave 3 of XRP's bull run while BTC retraces to the before its final capitulation around 48-55K. XRP in the past has taken the market cap from BTC as it capitulates and continues upwards as the king falls.
Depending on where our Wave 3 ends up on the price action my 5th wave price point may change from $10-13 up to $27 which are potential Fibonacci retracement levels.
Please feel free to provide feedback incase I have a blind spot but 'so far' the analysis has been sound, that doesn't mean it wont change but we can take that one step at a time.
I've been keeping a close eye on XRP since its retracement from 1.96 and have begun to take interest in the Wyckoff accumulation it seems to be working through.
My thoughts are we will hit the 'SPRING' at the 400D MA sat around .50 before as BTC drags down the market, we begin an A/B/C correction heading into our most impulsive wave 3 of XRP's bull run while BTC retraces to the before its final capitulation around 48-55K. XRP in the past has taken the market cap from BTC as it capitulates and continues upwards as the king falls.
Depending on where our Wave 3 ends up on the price action my 5th wave price point may change from $10-13 up to $27 which are potential Fibonacci retracement levels.
Please feel free to provide feedback incase I have a blind spot but 'so far' the analysis has been sound, that doesn't mean it wont change but we can take that one step at a time.