The Long Investor
patreon
$XRP
🕑 Added 2025-01-16 04:46:04 +0000 UTCI really like the Wave 4 pull back to the 0.38 Fib at $1.97, there was 3 tests of this level and then the price used the 50 Day MA to propel higher, price has now bounced strong over the last few days too.
Wave 5 is next as there has been a higher high in here too.
Some resistance at $3.31 but a flip of this level to support and $XRP can go to the 1 Fib extension at $4.36.
Comments
mark_williams
Where are we now? which wave...
Chintan Parekh
Is it a good time get into XRP?
Sonny
Where are waves 1 and 2 on the chart?
Luc
Oh, advanced EW theory here... Still learning, Thanks 🙏
Gareth Neary
Good observation but Wave 1 and Wave 2 consolidated very long, so the 1 Fib should therefore be taken from Wave 3 and Wave 4. Otherwise we would have used the 2.618 Fib and the 3.618 Fibs from Wave 1 and Wave 2.
Luc
I can't understand why wave 5 is so high. Shouldn't be same length as wave 1?
