Welcome to this analysis about XRPUSD, we are looking at the 30-minute timeframe perspective, the recent events, the current formational structure and what we can expect the next times. As XRPUSD recently showed up with preliminary bearish movements into the zone where it is mingling now there are some meaningful conclusions I detected in this structure with a decisive formation forming which when completed will point to the next outcomes, therefore I detected all the important levels and likely outcomes we should consider with XRPUSDs current structure and upcoming perspectives.
As when looking at my chart we can watch there the major triangle-formation XRPUSD is building here marked in blue where the price action is consolidating between the 100-EMA in light-blue and the 300-EMA in red, besides that XRPUSD is forming this coherent wave-count within the formation which is almost completed for now. As XRPUSD has still strong resistance within the structure and as it has shown up with this exaggerated bearish volatility while still overbought on the higher timeframe perspectives the bearish breakout of the triangle is more likely with a possibility of 65%, this breakout will show up when XRPUSD moves below the lower-boundary and also below the 300-EMA to close there and continue with bearish pressure when this happens, the less likely bullish scenario will show up when XRPUSD moves above the 100-EMA and closes there.
For now, it is of high importance to keep patient and wait on the proper confirmation in the more likely bearish direction to emerge which when completed provides a good opportunity to hedge within the market, besides that the bearish perspective will also confirm to the ascending-wedge-formation which XRPUSD already completed on the higher timeframe. After XRPUSD has shown up with the further conclusions and reached the targets it has to be elevated how it moves on further from there and if there can come a possible reversal or more protracted bearishness ahead.
In this manner, thank you, everybody, for watching this analysis, great contentment for everybody supporting, have a good day, 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.
Post your comments, questions, and ideas about XRPUSD here.
hungryEggs30602
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xrp didn't follow your chart, your charts is upside down or not related to movement.
PLZ don't share your idea.
Kaushik167
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imo it has good support at 0.60 and likely to consolidate furthermore and weekend we can see fireworks.
i am waiting for obv 4H breakout for conformation.
Sieb-47
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2 bullish scenarios in your graph, think downside needs correction?!?
On nowadays XRPUSD looks like so neutral and it has low volatility .
Also i should warn you this instrument do many false breakouts and big spike movement so be careful and dont jump to the train quickly :)
BitfulMind
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Thank you for your analysis. Do you think the upcoming SPARK airdrop will push the price of XRP upwards? If so, do you still think the price will drop before a big push up?