Hi my friends,
Welcome to this update-analysis about XRPUSD, we are looking at the hourly timeframe perspective, the recent events, the established formational structure, and what we can expect in the next times. Since the origin-analysis as expected XRPUSD has moved on to develop its wave-count within the descending-channel and bounced from the confirmational-bounce-cluster which was very important to finally form the recent breakout, if you did not see the analysis already I highly recommend it to watch to have a full-depth-overview, now I discovered further signs that added to the situation, therefore I detected all the important levels and likely destinies we should consider.
Structural Developments:
As when looking at my chart we can watch there how XRPUSD recently formed the breakout above the upper-boundary and closed there, this was an initial good sign, besides that XRPUSD is about to develop this confirmational bull-flag in the structure that can be a great source for further continuations, in this case it is possible that XRPUSD somewhat moves below the lower boundary to extend it however what is of high importance then is that XRPUSD does not fall into the channel again and below the 400-EMA because this can possibly increase bearish pressure further and visiting of lower levels, therefore, it is necessary that XRPUSD stabilizes sustainably above these very meaningful levels.
Upcoming Determinations:
Taking all these factors into consideration now XRPUSD has formed this great breakout and now it is the time to fully validate it with the right price-actions as suggested before this final direction can be assessed. When XRPUSD manages to form the proper price-actions this will activate the preliminary-upside-target marked in my chart in orange and when XRPUSD reaches these zones it has to be elevated how it proceeds from there and if there comes a continuation or XRPUSD firstly reverses which is also not unlikely in this case. Only when XRPUSD manages a strong stabilization further a continuation can be indicated before that bearish pullback should also be taken in contemplation, it will be an interesting journey.
In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"Good luck is when opportunity meets preparation."
Information provided is only educational and should not be used to take action in the market.
Welcome to this update-analysis about XRPUSD, we are looking at the hourly timeframe perspective, the recent events, the established formational structure, and what we can expect in the next times. Since the origin-analysis as expected XRPUSD has moved on to develop its wave-count within the descending-channel and bounced from the confirmational-bounce-cluster which was very important to finally form the recent breakout, if you did not see the analysis already I highly recommend it to watch to have a full-depth-overview, now I discovered further signs that added to the situation, therefore I detected all the important levels and likely destinies we should consider.
Structural Developments:
As when looking at my chart we can watch there how XRPUSD recently formed the breakout above the upper-boundary and closed there, this was an initial good sign, besides that XRPUSD is about to develop this confirmational bull-flag in the structure that can be a great source for further continuations, in this case it is possible that XRPUSD somewhat moves below the lower boundary to extend it however what is of high importance then is that XRPUSD does not fall into the channel again and below the 400-EMA because this can possibly increase bearish pressure further and visiting of lower levels, therefore, it is necessary that XRPUSD stabilizes sustainably above these very meaningful levels.
Upcoming Determinations:
Taking all these factors into consideration now XRPUSD has formed this great breakout and now it is the time to fully validate it with the right price-actions as suggested before this final direction can be assessed. When XRPUSD manages to form the proper price-actions this will activate the preliminary-upside-target marked in my chart in orange and when XRPUSD reaches these zones it has to be elevated how it proceeds from there and if there comes a continuation or XRPUSD firstly reverses which is also not unlikely in this case. Only when XRPUSD manages a strong stabilization further a continuation can be indicated before that bearish pullback should also be taken in contemplation, it will be an interesting journey.
In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"Good luck is when opportunity meets preparation."
Information provided is only educational and should not be used to take action in the market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.