Hello, Skyrexians!
Yesterday morning we did a big warning that altcoins will drop again. We expected the dump on Monday, but it has been started the next hour after our post. XRP s not an exception and dumped with the entire market, but for this coin correction is not likely to be over.
Let’s take a look at the daily chart. We can see the clear 5 Elliott wave structure inside the previous wave of growth. The bearish divergence signaled that trend is over and now it’s time to fasten your seatbelt. Correction has the shape on zigzag, wave A was impulsive, wave B was ugly and now price is printing wave C, which has to consists of 5 waves as well. The target is $1.5. There we have to see the green dot on the Bullish/Bearish Reversal Bar Indicator [Skyrexio] for the potential uptrend continuation.
Best regards,
Skyrexio Team
