XRPUSD, Continuation Likely Ahead Under These Conditions!

Hi my friends,

Welcome to this analysis about XRPUSD, we are looking at the 12-hour timeframe perspective. As expected XRPUSD showed up with these strong volatile downside movements almost exaggerating with bearishness and moving below crucial zones, this bearish picture did not yet change as XRPUSD has not formed a decisive reversal or indicating it successively, what is also important is to distinguish XRPUSD from other major cryptocurrencies like Bitcoin or Ethereum as it has a much higher bearish edge and is also antyciclical, therefore I detected all the important levels and likely outcomes we should consider with XRPUSD in its established structure and the upcoming movements ahead.

Structural Developments:
As when looking at my chart we can watch there XRPUSD is now clearly below the major ascending-trend-line marked in black, this ascending-trend-line was strong support previously and it is now a strong resistance in the structure. Besides that XRPUSD is trading below the point-of-control within the volume-profile which serves as a fundamental support/resistance point and in this case, it is a strong resistance from which XRPUSD already pulled back once. Also XRPUSD is trading below all important EMAs within the zone that is also resistance levels. Taking these factors into consideration XRPUSD has major resistance levels above that are more likely to initiate a pullback to the downside firstly.

Upcoming Perspectives:
XRPUSD is in a situation in which it is trading below crucial resistance-zones as already suggested. Currently, XRPUSD has managed to hold some marginal support in the structure from which it is somewhat building up however the up moves moving directly into the strong resistance-cluster consisting of the mentioned factors and therefore likely to show up with further bearishness when this bearishness drives the price-action below the dashed grey trendline as marked in my chart XRPUSD will continue bearishly till the lower levels of support are tested, in this case, the 0.1105 level will be the last bullish reference-point because when this does not hold XRPUSD will protract its bearish continuation.

In this manner, thank you for watching the analysis, have a good start into the New Year 2021, many thanks for all people supporting, all the best!
"Prospect is the ingredient of good fortune."

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