Corrective WXY of 2 without momentum, trendline tested

٢٤ ديسمبر ٢٠١٧

This wave is clearly correction to recent bullish pullback due to its low momentum, and thus a bull market should continue. It's lower trendline was penetrated in third pullback after second one failed to rally, making some traders closing longs in spite of sharp C but this was negated, so these people are trapped out of market. XRP is a leader of previous rise and has pretty low market cap, so I think it's great long.

On higher interval we have a triangle/wedge that broke out, was negated, but failed to rally any further, so a continuation is expected (Elliott-wise 3 of 3 of 5 is coming I'd say)