 How does it look? I hope you're well. In this video, we're going to take a look at the charts of XRP very quickly and also a quick look at the chart of Dogecoin and see what the potential Elliott Wave counts and the patterns on the charts are likely telling us. So, join me. All right guys, welcome back. And before we look at the most recent action on the price of XRP, I want to just draw this back a little and mention a few things here because as you may recall, if you've been following my analysis of XRP now for the last several months from the beginning of the year, you may recall that we got very bullish on XRP right about here after it crashed at the end of last year and the beginning of this year. So, you may recall after XRP here was crashing and everybody was panicking here. We got very bullish on XRP here. And in fact, you may remember at the time I said very likely that XRP is bottomed here. We've seen capitulation and we're going to likely see the beginning of an uptrend in XRP. Here's a clip. As long as XRP can remain above this support and respect this support of 0.17, I think I can reasonably say that it's probable that XRP has likely bottomed here and that potentially we've seen capitulation on XRP at these levels provided this level holds. If we've bottomed here, which I think is likely, then I can say well the C wave of the probable wave 2 has likely completed here at this level you're seeing here at 0.17. All right guys, thanks for watching that. And in case you're wondering the reason for that is because of Elliott waves. You may recall at the time I said look very likely we completed waves 1, so the major wave 1 of XRP and that crash we saw back in December and January was very likely the wave 2, the deep wave 2 correction on XRP. And that's why I got very bullish on XRP. Let's go back to the chart and that pretty much was correct. If we just look back over here, you can see that pretty much XRP bottomed there as you can see at the levels we got bullish on and we started a major rally to the upside. And in fact you may recall that in February I said very likely we're starting the major wave 3. This entire move, this entire rally in my view is likely wave 1. Again a smaller wave 1 within a larger wave 3. The larger wave 3 could extend just like you know, the larger wave 3 could extend much higher. Okay, could actually go significantly higher above the 1.265 level there. I said this was likely start of a major long term wave 3 in XRP, which is shown to you in yellow. So just be clear, the yellow counts are showing to you the long term wave counts, the major, the mega wave counts on XRP. The white counts are showing the smaller wave counts. So in other words, what I believe has been happening. In fact I mentioned this to you back in April as well. I said to you look very likely what's happening is that we're tracing out the waves 1 and 2, the waves 1 here of wave 3. And I said if you recall back in April I said very likely we're going to move into a wave 2 correction. Okay, this would be our wave 2 correction. Which means what? Which means if you look at this chart right here, I believe that what's been happening so far in XRP is we've been making out this long term wave 3, this larger wave 3. And we have been in the process of completing waves 1, which we completed back in April, and now wave 2. Okay, so we've been tracing out essentially this ABC pattern on XRP, the wave 2 of XRP. And I know what you're probably thinking. Some of you are probably thinking, oh well that's all great in hindsight. But could we've seen that actually some weeks ago? Absolutely. Guys, if you recall my video just a few weeks ago from the beginning of May, do you recall what I said with Hooman as I was making that video? Here's a clip for you. I think the structure over the last few weeks is an ABC wave. I think we're likely completing the A wave and the B wave as you can see here on the chart. And I think we're likely to go into a C wave, a C wave drop down into support very soon, potentially the next week or so. What is the wave C target? Very good question. I think we're looking at 100% projection of the A wave down from the top of the B wave, which could take XRP down to 0.8 or 0.7. I think that's pretty reasonable to say that 0.8 or 80 cents to 70 cents are likely support levels. All right guys, as you heard there in my video with Hooman, I said at the time, look, I was expecting a move. Here's the video. There it is. So I showed you these levels on my chart and I said there's support between 0.8 to 0.7. And in fact, here is that level I showed you in my video 0.711. Why is the level important? Because let's go back to the chart of XRP here because that was the 100% projection of the A wave. You measure the A wave, A wave down, and here's our B wave up. And that's why I said my targets were at these lower levels because the 100% projection of the A wave from the high of the B wave was at this zone, at this level you're seeing here. That's the red line. 0.711, let me just show it to you very clearly, 0.711 was the 100% projection of the A wave from the high of the B wave giving us the C wave projection at this level. By the way, we overreached this level. We went slightly lower and we touched base with the 200 simple moving average on the daily time frame. So guys, I do think the probabilities are increasing that we're beginning to see potentially the completion and the bottoming process for wave 2, for the C wave of wave 2. Now, let me make it very clear. I'm not saying that we know with a high probability that the C wave of wave 2 has bottomed here. No, look, we've seen a very decent nice bounce here as you can see. That's a very decent and very strong bounce from this level. That's true because as you know, a one-day bounce or a two-day rally does not make a trend. We have to wait for an uptrend to begin. We have to wait for a bottoming process. So yes, I do like the fact that XRP is bounced very strongly and very nicely from the 200 moving average and from the 100% projection of that A wave, in other words, a C wave target. So I do like this bounce. Don't get me wrong here. I do think we're getting closer to a potential bottom in XRP. What I'm saying is we have to be patient and wait for an uptrend to begin because there's still a risk. There is still a risk that we might see a lower low. Guys, if you just recall, let's go back to the January one more time, January crash. I'll make it for the December crash. So you may recall when price of XRP crashed here in December, look, we had a very decent, very strong bounce very close to 200 moving average, right? The green line. So we had a very strong bounce. But look what happened here. XRP then made a lower low. So that's why I mean we have to be careful, be patient for an uptrend to begin. Otherwise, there's still a big risk of a lower low. And that's why it's very dangerous to try and catch a falling knife. When I say I'm looking for an uptrend to begin, I'm looking for this. Look, when XRP crashed back in December in late December of 2020, and look what happened afterwards. It rallied, made a pullback, and then made a higher low. See that? That's what I mean by an uptrend. Okay? As a matter of fact, it also traced out a corrective pattern. As you can see here, A wave, B wave, C wave, which made that a wave two of a much larger uptrend. Okay? So that's what I mean by waiting and being patient for an uptrend, waiting for a higher low. We have still not had that kind of pattern, an uptrending pattern. So yes, I know what you're probably thinking. It's been a fantastic bounce from the 200 average and from the wave C target. Okay? Yeah. This could potentially be the bottom. However, it's only if XRP can remain above 0.738, because I think if it moves, if it moves below 0.738, it may trigger a lower low. Okay? So that's the first support we have right now on XRP, 0.738. We have to be patient and wait for XRP to put in a pullback and then start an uptrending process. Until it does that, until XRP does that, there's still a risk, there's still a risk of a lower low. So that's why I say it's a bit dangerous to try and catch a falling knife. It's a bit dangerous to try and call a bottom way too quickly. However, guys, I still remain long-term bullish on XRP. I still do think that as long as XRP remains above 0.5, 0.59, the wave count still suggests a long-term uptrend, a long-term potential bull market. So I still think that we're completing the waves one and two, we'll just draw this on the chart, potential wave one and two of a much larger wave three, the wave three in yellow. All I'm saying is we need to be patient and wait for that wave two to complete. We're still not there yet, okay? So let's just be patient and wait for an uptrend to begin on XRP. And by the way, that means when that uptrend does begin and when wave two completes, then we're looking for the next major wave up, that would be the major wave three taking a significantly higher above the April highs that we made on XRP, on Ripple. As for Dogecoin, well, let's just remind ourselves what I said about Dogecoin a few weeks ago back in early May when Dogecoin was here. I think that Dogecoin is also forming a five-wave move, a five-wave pattern. I think actually we're in the potential wave five of three. I think this is wave three of Dogecoin and I think that we're likely completing the wave five of this wave three. Then we could be likely looking at a wave four correction, taking Dogecoin down to potentially to 0.3. Again, that's what I'm looking at for the moment. All right, as you heard there, I said I was looking for Dogecoin to put in a wave four correction to our target levels. So just to recap, let's just zoom back a little bit here. So in a nutshell, what I think is happening here on Dogecoin is we've likely completed waves one, two, and three. Okay, let's go back over here. That's actually much better. Always zoom back on your chart when you're doing analysis. So I think that was our likely wave one, wave two correction, larger wave three uptrend, and as we've been anticipating now, a wave four correction, wave four pullback. The question is, has wave four bottomed? Has wave four completed? Well, that is still not very clear. Let's zoom in. I'm a bit disappointed. I'm quite disappointed Dogecoin has not come a bit deeper. I was expecting more deeper correction. It did come down to the 23.6% retracement, the green line you see here, but I am disappointed that Dogecoin did not see a bit more deeper correction because the 100% projection of the A wave from the B wave top would have brought Dogecoin down to this red line here at 0.17. Now, who knows? I think as long as Dogecoin stays below resistance and resistance is at this magenta line you're seeing here, 0.435. As long as Dogecoin stays below that level, there is still a chance that it might come down and test that red line, which is the 0.17 projection for the C wave. It might do a retest below the panic lows. But here's a very strong support level that you can see I've traced out here. So that is our support from the panic lows to 0.17. So it's possible Dogecoin may still retest or indeed test those levels in the next few weeks. But that's only as long as it remains below this magenta line you're seeing here. The magenta line is at 0.435. So keep an eye on these levels that you're seeing, especially the magenta line you're seeing here. Keep an eye on that because if Dogecoin manages to get above, first of all, it has to break this trend line you're seeing, this yellow trend line you're seeing on my chart. It has to break this trend line and then get above 0.435. That's the key level, 0.435. If it manages to get above 0.435, let me just do that one more time, that's the resistance. So if Dogecoin manages to rally and get above that trend line and get above 0.435, then on the balance of probabilities we're moving into bullish territory and we could see the next major wave up in a potential new high on Dogecoin. By the way, that's only if it gets above 0.435. Let me make sure I mention this. If Dogecoin manages to get above that level, 0.435, key support moves up to this level here. Key support then becomes 0.379. What I'm saying by that is, what I'm saying is essentially if Dogecoin gets above 0.435, the magenta line, then support moves up from these levels or these levels up to this level, 0.379, which means that level must not break if we're moving into bullish territory. In any case, it's going to be interesting to watch what happens here on Dogecoin. I still think on the balance of probabilities we're completing wave 4, the sea wave of a potential wave 4, which means when this sea wave of 4 completes, then we could move up into a potential wave 5. Before I finish this video, let me just make sure I mention this. Be cautious. Do not try and catch a falling knife. Remember, as long as Dogecoin and XRP remain below the resistance levels, there's still a risk of a potential lower low. Be careful about that. All right, guys. Thank you very much indeed. If this video has helped, please give it a thumbs up. I look forward to seeing you in the next video update. Cheers.