I think to have spotted another additional signal that can confirm us the continuation of a bullish trend.
Let's watch closely the square on the left side of the chart. It mark the correction wich took place between Dec 22 and Dec 26. It is a triangle correction. The same correction gave us the last ATH.
Now if we copy that square with his trend lines and his wave count, and we put everything over the current correction we will see that they are almost identical. Same hight, same lenght (till now) and almost the same pattern. It could be a fractal.
If we consider that "correction 1" gave us tht massive surge in price, we can be sure to expect the same once the correction will be completed.
The first wave up will get prices between 3.30 USD (exacltly as the hight of the wave III of Dec 30) and 3.70 USD ( at Fib 3.618, as it did before).
After that a small correction will take place, once done XRP will reach, and probably pass the 4.00 USD.
I think the vertical sloping forward line in the zigzag between A - B may denote the upward angle that may be assumed in the next surge.
MariyaS
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update please ?
adamicius
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Looks kind of more like H&S, but who knows...
attique315
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i Believe in what you said but i have a reservation want your feedback on that, the triangle formed in second square is descending triangle which indicates bearish future however your first triangle is nearly symmetrical triangle which indicates bullish future. How you will defend your analysis in this scenario? Looking forward for your reply Regards
alex_veg
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@attique315, I agree with you. In this case seems we are going to have a descending triangle, furthermore probably is going to take much longer then expected, as wave d seems still in play.
Anyway, the target will be the same. In fact descending triangles doesn't mean a bearish scenario. A bullish or bearish scenario depends from the wave count and not from the shape of the triangle correction. If the triangle has 3 waves down (a, c and e) and 2 up (b and d), as in this case, that means bullish. While if the 3 waves are up (a, c and d) means that the outlook is bearish.
Even though this seems to me as the most probable scenario, only at the end of wave d we are going to have a definitive confirmation of this pattern. An alternative count is always necessary.
attique315
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@alex_veg, Thanks for replying back, let see what happens, my Prayers for Bullish. Thumbs up for analysis
nixel
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RIP Ripple
Broom
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@nixel, far from RIP ripple, more like, Long live XRP, the San Fransiscan Prince of the West.