XRPUSD, Ascending-Wedge-Formation, Important Considerations!

Hello,

Welcome to this analysis about XRPUSD, we are looking at the 45-minute timeframe perspectives. XRPUSD is in a condition in which it can complete decisive determinations especially with the formation I discovered. As when looking at my chart now we can watch there the main formation forming here, this is an ascending-triangle-formation marked with the blue boundaries in the structure, within this formation XRPUSD has the coherent wave-count from A to C already completed. Now as XRPUSD got rejected by the upper boundary in an increased bearish manner this can be the fuel for the final completion of the formation. When XRPUSD increases further with bearish pressure here and finally closes below the lower boundary the whole formation will be completed and XRPUSD will likely continue bearishly to the downside till the lower levels will be appointed. In this case, XRPUSD has the target-zone within the blue level marked at the 0.715 price zone. Once these levels have been reached the situation needs to be elevated anew and it has to be shown if XRPUSD manages to hold this zone or continues further bearishly to the downside, it will be an important development ahead.

In this manner, thank you for watching my update-analysis about XRPUSD and its ascending-wedge-formation with the important levels to consider in the next times, support the analysis with a like and follow or comment for more market insight!

Information provided is only educational and should not be used to take action in the market.