Welcome to this analysis about XRPUSD, we are looking at the 6-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Since XRPUSD has shown up with these strong volatile movements to the upside in which it almost exaggerated and protracted with bullishness and retraced to previous supports now which it sufficiently held to form important up moves I have discovered a meaningful and decisive formation XRPUSD is now forming that will lie worthwhile ground for further determinations, therefore I detected all-important levels and likely outcomes we should consider with XRPUSD in the established structure and upcoming movements ahead.
As when looking at my chart we can watch there how XRPUSD is now developing this massive ascending-channel-formation to the upside marked in black, besides that it has formed this coherent wave-count within the formation already completing waves A and B within the schedule and now about to develop wave C that will finalize the whole wave-count and therefore move above the upper-boundary with the protraction above it as it is seen in my chart. All these factors will move XRPUSD to approach the descending-resistance-line marked in grey in my chart which is still resistance and from where the further conclusions will be made with the potential triangle forming as it is shown.
Taking all these factors into consideration XRPUSD has now completed some great fundamental price-action and now it is the time to fully validate these, therefore it is of high importance that XRPUSD finally manages to rightly close above the descending-resistance-line after forming the potential triangle. When such price-action sets in this will activate further growth within the bullish-growth-confirmation-zone marked in green in my chart. For the near upcoming times it will be important to elevate how XRPUSD manages the upside breakout out of the channel and continues after this further, when this happens in a strong manner this will give a positive edge to the whole journey, it will be an interesting development.
In this manner, thank you for watching the analysis and for everybody supporting it is great contentment, have a good day and trading!
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Information provided is only educational and should not be used to take action in the markets.