• Be careful with cryptocurrencies as the USD slides down
• There is still room for more weakness
• Ripple unfolds multiple wave structures  

US dollar is extending its decline, so be careful with cryptocurrencies and be aware of bull traps at this stage, especially now at the end of the month.

Image by WorldSpectrum from Pixabay 

We are still looking for a reversal down on the intraday basis, as we still see room for more weakness either as part of wave »c« or maybe even wave »iii«. However, if for any reason the crypto market stays strong, keep an eye on daily alternate counts.

Ripple, XRPUSD made a bigger recovery, but we still see it as a correction, probably as part of wave B of (C), so be aware of a reversal down again, ideally here around 61,8% - 78,6 Fibonacci retracement levels.

However, even if a higher degree wave (C) is completed labeled as ALTernate count and if current recovery is already wave (D), then we still need to see another, maybe final slow down for wave (E).

Ripple Daily Elliott Wave Analysis Chart #1

(Click on image to enlarge)

Of course, at his stage, we also have to consider COUNT #2, where XRP can be already unfolding impulsive five waves up if manages to stay above a strong trendline.

Ripple Daily Elliott Wave Analysis Chart #2

(Click on image to enlarge)