Crypto Contest January 19: Ripple

Ripple (XRPUSD) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, Ripple began a wave one advance on July 16, 2017. The red wave one finished on October 16, 2017, and the red wave two correction ended on November 12, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on January 4 this year, and the red wave four (blue sub-waves a-b-c) correction ended on January 16. If this wave count is correct, Ripple should be heading next towards the January 4 peak in the red wave five.

(Chart courtesy of Tradingview.com (log scale))

In the weekly chart, Ripple is most likely in the red wave three (blue sub-wave v). The blue sub-wave five began on July 16, 2017.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Ripple is enabling real-time global payments anywhere in the world. Here is a 10 minute video "Ripple and XRP in a Nutshell" by Boxmining.

(Sources: https://ripple.com/ and YouTube)

If you think this analysis is correct, upvote this post and upvote the comment "Ripple will takeout the January 4 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Ripple will drop below the November 12, 2017 low".

If you think Ripple is in a range, upvote this post and upvote the comment "Ripple will stay in a trading range between the November 12, 2017 low and the January 4 peak until February 19".

You can upvote the comment until 3 PM EST January 20 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).

Bonus

I will be sending one Trophy Token to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.