Just an idea of an Elliot wave pattern.

XRP has followed an Elliot wave pattern before. this was a chart I worked on and forgot to publish. First one ever published don't have a whole lot of time. very basic chart. if it falls the red line is the 61.8% fib retracement at around $1.40.

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Good buying opportunity at the bottom of the second wave/right after the bounce.

We just came off a 5 part Elliot wave with an ABC correction. This is my projected drawing for xrp to follow.

Given the most recent announcement of Money Gram partnership I expect XRP to continue this pattern.

Also Ripple has said it had 3 big partnerships announced. This was 1 of 3. In addition Q4 numbers are being released very soon so I expect an increase there as well. With XRP's fast transactions, low fees, and ability to expedite the entire money moving system I don't see how they won't corner the market.

We will see real growth if/once XRP is able to break away from BTC! Exchanges could add XRP as the new payment pair very soon if this happens as well. I also see this happening b/c of recent news that China plans to shut down all mining of BTC, and they are talking with Ripple and TRX.

If this happens we will see a fall of BTC in my opinion and maybe some coins will break away and be used as the new standard.

This is my opinion. you don't have to agree with it, any constructive criticism is welcomed as I'm always looking to learn as much as I can.

Thanks and enjoy.

Comment:

As of right now we are approaching a critical time in my analysis. For it to really be wave 3 of the Elliot wave it needs to surpass the downtrend that is still in play, and exceed the peak of wave 1 and continue on. By my analysis to clear the down trend it needs to exceed $2.15 and then exceed past $2.28. Will be watching. If it does not break the down trend then the wave could be broken and the down trend could continue to a consolidation period at the next support.

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Sorry, needs to exceed $2.26 not $2.28 initially.

Trade active:

Overnight it didn't make the jump yet, however it still seems it could be following the wave just in smaller waves first only time will tell. The RSI did jump from 40 to 51 on the 4 hr chart, so that is a good sign and considered to be more bullish now.

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I realized the timeline for my wave prediction is off. I was anticipating more of a parabolic wave like last time especially with the new news. I still believe it is moving in the right direction however.

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XRP is struggling with resistance at $2.10, this barrier must be cleared in order to advance. It has hit it 3 times and must break through. If not it could break down and consolidate.

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XRP appears to be turning bearish as of right now. Could still be part of wave 2, will have to pay attention closely to see. not sure how to upload a new image.

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updated image shows it's drawing closer to decision time. getting squeezed in the triangle, and will either breakout for wave 3 or break down for further correction. seems odd that the price is being driven down given all the good news. almost seems purposely kept down.