Hello Traders Investors And Community,
the divergence in the cryptocurrency market is increasing and therefore it is important for traders to realize these divergences within the market to act appropriately and dot not just measure the market in one direction because this can prove fatal in the end, XRPUSD is forming quite an interesting formation on the 12-hour timeframe perspective at the moment which can prove crucial in the further outcomes and when confirmed properly can approach a high possible setup ending in exponential growth, till then XRPUSD has to show up with some likely outcomes to validate this scenario fully, therefore I detected the important levels and more likely outcomes we should consider at the moment.
Looking at my chart you can see this huge descending-triangle-formation formed by XRPUSD here where it is forming a coherent wave-count below the 50-EMA marked in blue, this wave-count already confirmed the upper and lower boundary several times, currently XRPUSD has still resistance above in the structure, formed by the upper boundary and the 50-EMA resistance building a coherent resistance cluster marked in red in my chart which can be the origin for the final wave E which will complete the whole wave-count and be the starting point of a great breakout and confirmation of this descending-triangle-formation.
When XRPUSD shows up with the more likely scenario to form the final wave E this will move on to the back-up-cluster marked in orange in my chart where the lower boundary of the triangle coming together with the major trendline XRPUSD has established since 2019, when XRPUSD bounces there it will move on to complete the triangle-formation, this will happen when XRPUSD closes above the upper boundary and forms a possible pullback to continue its rising when these scenarios show up as expected XRPUSD has some solid potential for further continuations, it will be highly interesting to see how XRPUSD develops further here.
In this manner, thank you for watching, good day my friends, and support for more market insight.
"There are many roads to prosperity but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
the divergence in the cryptocurrency market is increasing and therefore it is important for traders to realize these divergences within the market to act appropriately and dot not just measure the market in one direction because this can prove fatal in the end, XRPUSD is forming quite an interesting formation on the 12-hour timeframe perspective at the moment which can prove crucial in the further outcomes and when confirmed properly can approach a high possible setup ending in exponential growth, till then XRPUSD has to show up with some likely outcomes to validate this scenario fully, therefore I detected the important levels and more likely outcomes we should consider at the moment.
Looking at my chart you can see this huge descending-triangle-formation formed by XRPUSD here where it is forming a coherent wave-count below the 50-EMA marked in blue, this wave-count already confirmed the upper and lower boundary several times, currently XRPUSD has still resistance above in the structure, formed by the upper boundary and the 50-EMA resistance building a coherent resistance cluster marked in red in my chart which can be the origin for the final wave E which will complete the whole wave-count and be the starting point of a great breakout and confirmation of this descending-triangle-formation.
When XRPUSD shows up with the more likely scenario to form the final wave E this will move on to the back-up-cluster marked in orange in my chart where the lower boundary of the triangle coming together with the major trendline XRPUSD has established since 2019, when XRPUSD bounces there it will move on to complete the triangle-formation, this will happen when XRPUSD closes above the upper boundary and forms a possible pullback to continue its rising when these scenarios show up as expected XRPUSD has some solid potential for further continuations, it will be highly interesting to see how XRPUSD develops further here.
In this manner, thank you for watching, good day my friends, and support for more market insight.
"There are many roads to prosperity but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
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