Before I want to start my analysis, I want to say that this may be dubious wave count. I counted wave 1 as a expanding diagonal, which is not a valid wave count according to Elliott Wave
rulebook. However, the expanding diagonal for wave 5 wasn't added to the rule book until recently either. So I thought, if there are expanding diagonals in wave 5, why can't there be expanding diagonals in wave 1 just like the case with leading and ending diagonals. After all, Elliott Wave
counting is all about creativity and pattern recognition.
Anyways, XRP is forming a symmetrical triangle, and if my wave 1 count is correct, then we should see a break out soon once the triangle completes. We use a Fibonacci Extension
to get our targets (green lines).