The Return of the Ripple

Did Ripple start the journey to new historical highs? by TheFinancialForecast on TradingView.com

Ripple or XRP started the year 2020 with a deep low at 0.1760. This decline began from the top at 3.2299 stablished in December 2017. The 3 waves sequence achieved the low after 2 years following the high probability iterations for length – time – speed, increasing the chances for a long term corrective wave finished, giving way to a potential new long term bullish cycle if the price action stays above 0.2028. Ripple earned 69% value since then. The chart shows the iterations for the short term waves, where we can visualize 3 movements with the last leg peak within the 1st attractor. The break of 0.2695 confirms the end of this wave and the beginning of the short term corrective sequence. If a new high doesn’t occur before Feb 19, then the chances for a higher degree correction increase and price action can move to the blue attractor placed between 0.2445 – 0.2189. To keep this potential long term bullish sequence alive, price action shouldn’t break and close below 0.2028, if not new lows will be in the scope.

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