Ripple's XRP Awaiting New Low to Complete Wave 5 of C


Ripple's XRP could be in the final phase of completing a bearish ABC (dark orange) pattern and might have one new low remaining before an uptrend is able to start. Ripple had interesting and positive news yesterday after it was announced that Bill Clinton is appointed as a keynote speaker at the Swell conference. This probably created a small bullish bounce at the support of the sideways zone (purple box) but the larger picture remains bearish due to the strong bearish momentum (red arrow). A bearish breakout below the zone could mark a new low to complete wave 5 (dark red) of wave C (dark orange).

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