How XRPUSD Can Form The Decisive Reversal In The Structure!

Hi my friends,

Welcome to this analysis about XRPUSD, we are looking at the 4-hour timeframe perspective. As XRPUSD has shown up with this increased exaggerated bearishness to the downside it moved into oversold regions and also testing important support layers on the more global perspectives as I discovered, now XRPUSD is forming an interesting formation also in the 4-hour timeframe perspective, therefore I detected all the important levels and likely outcomes.

As when looking at my chart we can watch there XRPUSD now is forming this major descending-triangle-formation marked in my chart in blue. Besides that XRPUSD has established the coherent wave-count within the formation with the waves A to D already completed and now setting up to form the wave E to the downside that will finalize this whole wave-count and also move into the lower back-up-cluster marked in my chart in blue that is likely to be the origin of a great breakout when XRPUSD manages to bounce properly within this zone, in this case when XRPUSD shows up with a decisive bounce from there that emerges above the upper-boundary it will point to the right setup as it is marked in my chart, there is also the 25-EMA in green and the 15-EMA in red, when XRPUSD moves above them it will also validate the breakout and completion of the formation with activation of upside targets.

The last times XRPUSD has shown up with heavy bearish downside price-action however it is not seldom seen that the market can recover after such movements established, this can happen when XRPUSD completes this possible reversal-formation and then shows up with the further conclusions, a testing of the 0.45 level anew can be a realistic outlook when the formation has completed from where the market needs to be elevated anew.

In this manner, thank you for watching the analysis, have a great Christmas and upcoming Happy New Year's Eve, many thanks for all people supporting this year, 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 markets.