Welcome to this analysis where we are looking at the XRPUSD 1-hour timeframe perspective, the recent events, the current formational structure, what we can expect the upcoming times to happen and how to possibly handle the situation appropriately. On the hourly chart XRPUSD is forming at the moment a crucial picture where it can definitely show inevitable decisive outcomes, in comparison to majors like Ethereum or Bitcoin XRPUSD did not show that much of recently where it either will show up again or the remaining resistance will shift the whole dynamic this is why we need to look at this currency differentially and therefore also what are the possible outcomes and potentials XRPUSD is showing up within this structural developments, therefore I detected all the important levels and scenarios we should consider here.
When looking at my chart you can watch there that XRPUSD is moving within this ascending-channel marked in blue where it already established this wave-count with the current wave C in development which will test the upper boundary anew and then has the possibility to bounce up from the 60-EMA in grey, overall this wave-count will go on till the final wave E has emerged which will be extremely decisive here as this will lead directly into this strong resistance-cluster lying there were several resistance levels coming together consisting of the descending-resistance-line in grey, the ascending-resistance-line in red, the 600-EMA-resistance in orange and the horizontal resistance lying there forming together this very massive resistance-level where firstly a pullback is highly likely and should be expected considering this heavy resistance there.
Now when XRPUSD confirms the resistance properly as expected it will be an important determination how long the price will fall and if there can be a possible stabilization within this structure or not, when the price moves below the lower boundary of the channel it will firstly confirm as a bear-flag and point to the lower levels remaining here, when XRPUSD then does not hold the 60-EMA level it has the potential to fall more, then the market needs to be elevated again and where the journey will move. It will be interesting to see how XRPUSD reacts as suggested within the strong resistance-cluster and where the destinations leave after that, overall the outcome should not be underestimated and this structure should be distinguished to other major cryptocurrencies which formining more paces.
In this manner, many thank you for watching the analysis, feel free to support, have a good day and all the best!
"Prospect is the ingredient of good fortune."
Information provided is only educational and should not be used to take action in the markets.