I believe we are still at least a month from breaking out of this big ole wedge we are stuck in. The news and rumors just keep bumping us around inside of it for now. So for now I'm following the charts, not the news, and trying to be patient.
There maybe a couple of buying opportunities before 2025 and possibly a short gift of 3$ before venturing into the new year where ATH will be tested and broken. Good luck to all and Happy Holidays.
If XRP keeps following this stair stepper trend on the line we will hopefully reach the previous ATH by this weekend or sooner. Which will in turn be a new catalyst for FOMO and this is before anything good even happens. Gensler resigning, RLUSD, XRP ETF, possible no tax on American made Crypto's, Lawsuit settling or dropping, Mass adoption. Looks like a new ATH...
I'm giving XRP till the end of march, assuming the SEC doesn't appeal. This is the end of the 7 year long wedge. If she doesn't take off by then, we maybe in for a depressing ride. Time will tell.
the multi year wedge is tightening and the common breakout point aligns roughly with the deadline for settlement talks ordered by the Judge. Well see what happens, big things are coming and I remain hopeful.
we have been bouncing off the 200 DMA for over a month now, after this short test of retracement levels I believe we will continue this trend until the 200 DMA line breaks the months long wedge. Based on the timeline it looks like right around thanksgiving.
Still new to Elliot wave theory, but what I think (hope) were looking at here is wave 3 for the year being a 12345 and wave 4 for the year being the ABC correction. C being what we are currently looking at. Wave 5 for the year starting (hopefully) after the triangle is broken between now and early October. What do you think?
2 potential paths i see, dip to 1.5 at the bottom of the channel or we continue to ride above it with a 3rd cup and handle to close out the week. either way 2$ by Sunday
