The market remains in a downtrend, though wave analysis indicates a potential end to the current trend.
The higher-degree wave structure resembles a rising wedge. Within this five-wave structure, the formation of the wave [iv] is now being completed. As soon as it is formed, the market can begin to grow again.
At a lower degree of the wave structure, the development of a triple three, where the formation of wave (z) has completed, is seen.
Despite the current downward movement on the Ripple chart, the situation may change soon. The corrective wave is close to completion, which may indicate the possibility of a price reversal.
In the current situation, it is worth paying more attention to long positions.
