$XRP has broken out of the descending channel and moved upward toward the green line at $1.34, but has not yet broken above it.
The reaction from $1.21, at the 61.8% retracement and 100% extension, followed a complete 3-wave ABC decline. The current pullback needs to hold a higher low, followed by a higher high above the first resistance at the green line around $1.34 for 5 waves up, and then a 3-wave decline. That would confirm a low and likely mark wave 1 of the next larger 5-wave move.
The reaction from $1.21, at the 61.8% retracement and 100% extension, followed a complete 3-wave ABC decline. The current pullback needs to hold a higher low, followed by a higher high above the first resistance at the green line around $1.34 for 5 waves up, and then a 3-wave decline. That would confirm a low and likely mark wave 1 of the next larger 5-wave move.
