Welcome to this analysis about XRPUSD, we are looking at the perspectives. As XRPUSD has shown up with these pullbacks after marking the high at the 1.8 level I discovered some interesting formational structures XRPUSD has developed here that can lead to determining breakouts ahead in the upcoming times. Therefore it is necessary to elevate what is possible and what not and especially to keep patient for the final completion of the formational structure. When this happens and the formation completes it can lead to some great developments ahead in the upcoming times, it will be an interesting development.
As when looking at my chart we can watch there how XRPUSD has this major horizontal support marked in blue within the 0.654 level in which it already bounced several times in past price action and now recently already done similarly. Furthermore, XRPUSD has established this massive descending-wedge-formation which in almost most occasions is a reversal-formation that when completed can lead to determining breakouts and continuation-movements. A good sign is also that XRPUSD is holding above the 35-EMA in red here from where it has the ability to build up especially combined with the lower boundary of the wedge-formation and the horizontal support this is building a solid base.
Taking all these factors into consideration now XRPUSD is in a structure in which some great potentials lying. In this case, now it is necessary that XRPUSD shows up with the right price-actions ahead of the upcoming times. Therefore, to complete the formation finally XRPUSD needs to breakout above the upper-boundary of the wedge-formation and close there which will confirm the formation finally and will be the setup for further continuations to the upside. It has to be noted that this formation can also invalidate when XRPUSD increases bearishness and pushes below the given support however as the support-structures here are just too strong this is an unlikely scenario to elevate.
In this manner, thank you everybody for watching, support the idea with a like and follow or comment, have a good day as well as weekend, and all the best to you!
"Good luck is when opportunity meets preparation."
Information provided is only educational and should not be used to take action in the markets.