XRPUSD, Potential Channel-Breakout Incoming Since Upside-Tests!

Hi,

Welcome to this analysis about XRPUSD, looking at the hourly timeframe perspective. As already stated in previous analysis XRPUSD these times has developed a really solid bullish pace as it moved through important resistances and recently already shown up with bullish alignments in its structure. In this case, now I discovered an important formational structure that will be a worthwhile determination in the upcoming times especially when XRPUSD manages to develop the further decisive price-actions, therefore I detected all the important levels and likely destinies we should consider in the established structure and upcoming movements.

Structural Developments:
As XRPUSD recently already showed up with high bullish volatility it tested the upper boundary of the main ascending channel that is marked with the black boundaries in my chart. Furthermore, XRPUSD has developed this coherent wave count to the upside with the waves A and B already fully completed and with wave C recently rightly moving into the upper boundary of the ascending channel and testing it. Now within the middle-line of the channel XRPUSD has some good supports lying also backed by the EMAs in this structure, as it is more likely that XRPUSD firstly develops a pullback to these zones it should be also expected, then it is necessary that XRPUSD rightly bounces in this zones and does not show up with bearish pressure invalidating it.

Upcoming Determinations:
At the moment XRPUSD is definitely one of the more bullish currencies in the market, this is necessary to assess because not every currency has such bullish circumstances as the cryptocurrency market divergence is increasing. The next times it will be important to elevate on how XRPUSD approaches the remaining supports and how a bounce from there can emerge, when XRPUSD then finally bounces above the upper-boundary as it is shown in my chart this will be the proper set-up for the wave-C-extension to develop, taking this further targets at around the 1.5 zones have good potentials to be reached. For now, these scenarios need to be elevated, it will be an interesting development.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"Trading effectively is about assessing possibilities, not certainties."

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