Hi my friends,
Welcome to this update-analysis about XRPUSD, we are looking at the 1-hour timeframe perspective. The decisive triangle-formation I mentioned previously rightly completed in the schedule and XRPUSD moved below the lower boundary of the triangle before showing up with strong exaggerated bearish price-action to the downside to the point where it now moved into the prospected supports which are actually crucial for the further developments. If you did not see the origin-analysis I highly recommend it to watch to have a full-depth-overview as this analysis building coherently up on the previous one, therefore I detected all the important levels and likely outcomes we should consider with XRPUSD now.
As when looking at my chart we can watch there XRPUSD just moved into the 61.8% Fibonacci-level and somewhat below it where it showed up with an initial bullish bounce however this bounce, for now, is too marginal to really indicate a reversal here therefore it is important for XRPUSD to increase with bullish price-action from this point and finally move above the local resistance marked in my chart with the red dashed lines, when XRPUSD manages to move above this level and hold above it sustainably this will indicate further bullishness and remaining upper resistance-zones to be tested anew. When XRPUSD does not manages to move above the local resistance and stay there as suggested instead XRPUSD increases with bearishness further and moves below the ascending-trend-line marked in my chart in dashed grey this will lead to further bearish pressure and visiting of lower levels as XRPUSD will also develop the wave-C-extension.
What is of high importance now in this structure XRPUSD formed here is to wait on the proper alignments before moving into the final direction, currently, the bullish stabilization can be preferred over the bearish continuation however this need urgently to confirm as mentioned before moving into the right direction, therefore it is from necessary that we stay patient and move with the market when the proper opportunities show up under the given circumstances, it will be an interesting journey ahead.
In this manner, thank you for watching the analysis, have a great day and weekend, all the best!
"The eyes only see what the mind is ready to comprehend."
Information provided is only educational and should not be used to take action in the markets.
Welcome to this update-analysis about XRPUSD, we are looking at the 1-hour timeframe perspective. The decisive triangle-formation I mentioned previously rightly completed in the schedule and XRPUSD moved below the lower boundary of the triangle before showing up with strong exaggerated bearish price-action to the downside to the point where it now moved into the prospected supports which are actually crucial for the further developments. If you did not see the origin-analysis I highly recommend it to watch to have a full-depth-overview as this analysis building coherently up on the previous one, therefore I detected all the important levels and likely outcomes we should consider with XRPUSD now.
As when looking at my chart we can watch there XRPUSD just moved into the 61.8% Fibonacci-level and somewhat below it where it showed up with an initial bullish bounce however this bounce, for now, is too marginal to really indicate a reversal here therefore it is important for XRPUSD to increase with bullish price-action from this point and finally move above the local resistance marked in my chart with the red dashed lines, when XRPUSD manages to move above this level and hold above it sustainably this will indicate further bullishness and remaining upper resistance-zones to be tested anew. When XRPUSD does not manages to move above the local resistance and stay there as suggested instead XRPUSD increases with bearishness further and moves below the ascending-trend-line marked in my chart in dashed grey this will lead to further bearish pressure and visiting of lower levels as XRPUSD will also develop the wave-C-extension.
What is of high importance now in this structure XRPUSD formed here is to wait on the proper alignments before moving into the final direction, currently, the bullish stabilization can be preferred over the bearish continuation however this need urgently to confirm as mentioned before moving into the right direction, therefore it is from necessary that we stay patient and move with the market when the proper opportunities show up under the given circumstances, it will be an interesting journey ahead.
In this manner, thank you for watching the analysis, have a great day and weekend, all the best!
"The eyes only see what the mind is ready to comprehend."
Information provided is only educational and should not be used to take action in the markets.
Note
Origin-Analysis: 
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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.