I don’t believe XRP will cross the previous ATH 0.21% bu is still a decent trade opportunity. Top chart includes fib, pennant and wave count. Setting SL below wave 1.
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Should stay in channel
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Not if but when?
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It dropped out of the pennant however it has not broken previous Wave 2 retracement ( which is a good sign). SL 1.75.
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Also it has been oversold more than once in the last couple of days.
Hi, how long can it take until the crypto market and xrp recover in particular from this run in Korea? Tks
dropd01
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@gusccbb, I don’t think Korea has any affect on this in particular. This is just a standard Elliot wave. The first pump wasn’t large so the Fibonacci retracements only take it to where I have it charted. Korea didn’t ban Crypto it was all a rumor and there are articles from yesterday that Korea stated they didn’t ban it. As for coin Market cap removing the Korean exchanges from the caps I think this is a good thing because the Korean banking is not globalized so really all that did was inflate the market caps.