With the Chinese new year making all the markets bloody I think this is the road to recovery for XRP.
Barring any big news I believe it should follow this wave form again. Days might be slightly off as this was a quick drawing.
This coin has a ton of scalability and real world use. I would not be surprised if it shot up more than this at all.
Happy trading. And of course #hold !!!!
- Fibo extensions put 1.618 level at $6.0, of course it doesn´t have to exactly touch it but somewhere around there is extremely posible. Remember that 3 wave of a cycle must reach somewhere near the 1.618 extension, it happens 75% of the time. if we want to be more conservative, we could set it up at $5.0
- Thinking in this uptrend as the 3 Wave of the cycle, the price will have to give the trend a very decent space for the correction of Wave 4, remember the correction must reach at least 38%-40% of the uptrend and could extend as much as 78%, as happened with the last correction (Wave 2), and considering that Wave 4 can´t land inside Wave 1 space, it will have to have more space to breath in the correction.
Good trading :)
You are welcome, its always good to see analysis based on TA, fundamentals and market psychology, and not only pure speculation, as much people do it.
Good luck ;).