Ripple Unstoppable

Ripple continues to amaze at it smashes through psychological and technical levels and keeps making new highs. It bulldozed its way into the $3 handle, and comfortably sits at $3.25 at the time of this writing, showing no signs of giving up. At this point it is even threatening Bitcoin's marketshare after comfortably unseating Ethereum. Some retracement inevitable, though we’ve had to completely redraw our Elliott Wave interpretation to keep up with XRP. We must look to the highest Fibonacci Extension and nested Fibonacci Extension levels to find support for this prolific bull run. The nearest level of support seems to be $2.87, then again at $2.53, though XRP shows no sign of testing these levels. Eventually, we must enter the corrective phase of the Elliott Wave so consider taking some profits.

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