After that strong impulsive recovery away from $1 on Ripple, we are now facing a new pause, and this pullback could be a bit deeper. It should also be subdivided into three sub-waves, which is not really the case yet, so be aware of more pullback from here. It’s very possible that the next leg down could also come out of a wave b triangle, with support somewhere around the 61.8% retracement, which is usually an ideal area for higher-degree corrections to unfold and complete a counter-trend movement. In our case, that’s somewhere around the $1.20–$1.30 area, where new buyers could step in.
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