XRPUSD, Develops Crucial Triangle, Important Considerations!

Hi,

Welcome to this analysis about XRPUSD, we are looking at the 4-hour timeframe perspectives. XRPUSDs negative correlation to the other major cryptocurrencies like Ethereum or Bitcoin increased in the last volatile developments, these divergences are necessary to distinguish. Technically XRPUSD has now formed this main ascending-triangle-formation which is normally a reversal formation, within the triangle XRPUSD has already completed the waves A to D in the structure and is now about to form the wave E in the triangle which will complete the whole wave-count and therefore also the ascending-triangle-formation. After this is done when XRPUSD closes below the lower boundary of the formation as it is shown in my chart this will be the setup for the further continuations to the downside and approaches of the descending-support-line and the dynamic supports lying there, for now, the bearish scenario should not be underestimated.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"The high destiny of the market is to explicate, rather than to speculate."

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