XRPUSD, Triangle-Formation, Main Possibilities!

Hello,

Welcome to this analysis about XRPUSD and the 4-hour timeframe perspectives. As already mentioned previously the cryptocurrency market divergence is increasing more and more, this is why there are coins that have more bearish, neutral or bullish conditions, these divergences are highly necessary to assess and with XRPUSD I detected that it is actually forming a more bearish pattern here. Therefore as when looking at my chart we can watch there how XRPUSD is developing this main triangle-formation with the coherent wave-count within already completed, now as XRPUSD is testing the 300-EMA marked in darker green once again there is not much bullishness coming in in this zone which can invalidate the triangle bullishly to the upside therefore it is more likely that XRPUSD completes this whole triangle-formation bearishly to the downside which will happen with a breakout below the lower boundary, nevertheless it is pivotal to wait for the final completion because the possibilities can also change again when increased bullish signs develop, in this case, once the more likely bearish breakout emerged this will point to the continuation-setup and XRPUSD will move on to approach the lower target levels. These are marked in blue in my chart, once XRPUSD has reached out there it needs to show if these levels can hold otherwise when it does not happen a bearish continuation will develop within the bearish-continuation-zone.

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