XRPUSD Brakedown Of The Channel Suggesting More Downside!

Hello Traders Investors And Community, as I already mentioned in past analysis about RIPPLE, it was highly possible that we realize the overall resistance-zone between 0.1889 and 0.2000, this scenario happened recently and we realized the resistance as I described it in the past ideas published about RIPPLE, when you didn't saw these charts already I highly recommend that you go on my account-page and look on the recent RIPPLE-charts. As these scenarios, I described happened on the daily time-structure I will no go on the smaller time-structure and look closer at the current situation.

Alright, what we can see now is that RIPPLE provided a huge bearish sign, which you can see when looking at the orange box in the chart, this is the major bearish confluence-zone which brought RIPPLE to the downside, which is significantly consequential in this structure is that RIPPLE just broke down this major important up-trend channel which you see in the chart marked with the grey lines. What is also momentous in this structure is the huge volume with which the breakdown occurred, this signals that the bears are very strong at that level as the breakdown occurred with heavy speed and impact.

For now, RIPPLE is consolidating in the side-way-channel which you see in my chart marked with the blue lines, for now, we are consolidating and there is a possibility for an up-move aiming the lower line of the huge channel and the upper-line of the small channel, this resistance levels also building a logical and coherent zone of resistance for RIPPLE because we will struggle to form any bullish continuation to the upside in that level. When we confirm the upper-levels as resistance like you see it marked in my chart it is possible that RIPPLE is trading in a huge bear-flag which will suggest lower levels when confirmed, the good thing is that such formations can be traded properly with a good risk-to-reward.

When we do not confirm the upper-levels as the significant resistance which will bring RIPPLE heavily to the downside there is the possibility given in the schedule that we get a longer consolidation in the smaller channel between 0.175 and 0.19, when RIPPLE to not shows the bearish breakdown of the possible bear-flag there is a little possibility given that we will start slowly moving up higher from that level but for now, this is only a small possibility currently the bearish scenario will be more likely because there are more bearish than bullish signals at the moment.

Okay, my friends, this should give you a good overlook about RIPPLES current situation, don't forget to always wait for the right confirmation in the markets and then place the trade accordingly to the given situation. The market condition is a structure of many possibilities and is highly complex therefore there is always more than one scenario, therefore the scenario with the highest possibility has to be picked out and traded rightfully, the most of the time we must elevate our selves above mere speculation and gambling because that is what more and more people looking for in the market today.

Thanks for watching, may all luck and happiness come to you my friends and of course good trading profits.
And don't forget as I always say: Success comes from elevated concentration on the projected goals
In this manner: FAREWELL

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