<center>![](https://steemitimages.com/DQmf5i45SGJccjYLWdc8q8KNzXgL2mfG6f2z1jc7U9xpQnn/image.png)</center>
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**SUMMARY**

Ripple (XRP) is moving per the MACD direction which has reached a very close proximity to its apex (blue lines). The yellow WXYXZ for the price could be complete, though sideways price extension can go on. The yellow Z has placed a lower low. 

![](https://steemitimages.com/DQmaCDAHeAmvm9p8W6A7SzYmVZNFAjx7FE1WVUDKhHMtDoL/image.png)

The blue circle shows a breakout and yet a lower low occurred. However, the length of time for the first downward wedge pattern (white) was quite short and thus a breakout from it has likely lower low probability. Recall that Altcoins are unable to complete a correction quickly. So, any wedge pattern that is perhaps less than 3 months would be bull traps. The length of the correction to the yellow Z spans over 3 months and the MACD pattern has contracted to as much as possible. So, another breakout is expected but this time MACD, Time, Pattern and Elliott Waves are all confluent. The first breakout was missing the time length component.
![](https://steemitimages.com/DQmRJwVGgNU8HXDrozpbiSKccP299b4CKt9Qz1gxbquFzcE/image.png)

**Legal Disclaimer**: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes. </center>


Please consider reviewing these Tutorials on:
[Elliott Wave Counting Tutorial #1](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-1-by-haejin)
[Elliott Wave Counting Tutorial #2](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-video-2-zig-zag-and-flat-corrections-how-to-recognize-and-label-corrective-waves)
[Elliott Wave Counting Tutorial #3](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-iii-how-to-label-and-apply-triangle-price-corrections)
[Laddering](https://steemit.com/bitcoin/@haejin/an-effective-buying-and-selling-strategy-laddering-a-tutorial-on-to-cast-a-ladder) and [Buy/Sell Setups](https://steemit.com/bitcoin/@haejin/when-to-buy-and-sell-using-elliott-waves-a-tutorial). 
[Laddering Example with EOS](https://steemit.com/bitcoin/@haejin/eos-target-usd3-22-analysis-update-live-real-time-laddering-example-you-don-t-want-to-miss-this)
[Tutorial on the use of Fibonacci & Elliott Waves](https://steemit.com/bitcoin/@haejin/tutorial-on-the-use-of-fibonacci-ratio-and-elliott-waves)
[@haejin's Trading Nuggets](https://steemit.com/bitcoin/@haejin/haejin-s-trading-nuggets-all-learned-through-tonnages-of-failure-experiences)
[Essay: Is Technical Analysis a Quantum Event?](https://steemit.com/bitcoin/@haejin/essay-is-technical-analysis-a-quantum-event)

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