Hi all. Today I have shared on Twitter one of the most comprehensive explanations of all time since 2016. In that chart, XRP's price moves were overlapping with the Wave Trend Indicator.
Let's further deep dive into the Grand Cycle Pattern within 6 Steps & I would like to give you benchmarks of what was the targets when XRP was around $0.85 almost a year ago.
1. Wave 1
XRP jumped from $0.003 to $3.82 within a year.
We can call this move WAVE 1. There was a 1,272X jump within that year.
2. Wave 2
The second Elliott Wave, Wave 2 is a corrective wave and consists of 3 waves called Wave A, Wave B and Wave C.
Wave A: The first corrective Wave of Wave 2 from $3.82 towards $0.11
Wave B: The 2nd motive Wave of Wave 2 from$0.11 towards $1.96
Wave C: The 3rd corrective Wave of Wave 2 from $1.96 towards $0.28 at the moment
Could corrective Wave 2 go deep down further?
Yes, we discussed this in Feb 2022 and onwards and we highlighted many times that $0.22 is the Fibonacci level we could see.
For the Wave 3, we discussed the possibility of $11 & $197 after the $0.22 Levels (Wave 2 dip on February 2022)
3. Wave 3 - 27 February 2022 - Let's Check What we had discussed about $0.22
We have analyzed XRP's pullback to $0.22, 9 months ago. We called this a Storm. And the final storm was expected to be the hardest ever.
4. 13 Jul 2022 - Another Reminder on $0.22 and Wave 3 in Grand Cycle
We combined the worst and the mid-term best cases in a single TA in July, 2022. We have highlighted $0.22 and addressed the $0.09 for the first time.
5. 8 Sep 2022 - A reversal signs from our $0.28 towards $0.55 & $0.73
After touching the $0.28 level, we have predicted a reversal towards the $0.51 first Fibonacci level and $0.73 to the second Fibonacci and $1.04 to the 3rd Fibonacci level. XRP touched $0.55 from $0.28 however, couldn't break that level although she tried 3 times. This was a bounce and called Wave 4 of Corrective Wave C.
6. 16 Oct 2022 - Possibility of touching $0.22 & $0.09 and Wave 3 in Grand Cycle
And again in October, after 3 months later highlighting the possibility of 9 cents in July, we discussed 3 levels: 22, 17 and 9 cents.
Today's Update: 11 Nov 2022 - Highlighting the $0.22 and $0.09 and previous levels
Finally, today we re-iterated the above expectations.
As explained in the chronological order above, we have expected 22 cent levels starting from Feb-2022. XRP prices were $0.85 in February this year and dropped down from here towards $0.28 levels. However, we kept the possibility of touching 22 Cents.
After touching $0.28 we predicted a reversal towards $0.51 and $0.73 respectively and successfully touched $0.55. $0.55 unfortunately, get rejected there and our expectations of $0.73 did not take place.
The ones who step back and see the overall picture can easily understand where the XRP price is at now and what is the next move. Whether we see 22 cents or 9 cents with the Final Corrective Wave, the upcoming Wave 3 is expected at the end and will be astonishing. Wave 3, targets the Fibonacci Level of 1.618 @ $13 & exponentially @ $256 respectively.
As always, Important Note: None of the targets represented on defenddark.net and defenddark.com is financial advice. The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.