XRP, Completes H-S-Formation, Reaches Targets, Next Assessments!

Hello Traders Investors And Community,

Welcome this update-analysis about XRPUSD, we are looking at the hourly timeframe perspective, the recent events, the established formational structure, and what we can expect within the upcoming times. As expected within the previous analysis XRPUSD fully completed the head-and-shoulder formation bearishly to the downside and reached the lower targets rightly within the schedule, if you did not see this analysis already I highly recommend it to watch to have a full-depth-overview. Now as these conclusions showed up XRPUSD initially bounced within the target-zone to the upside, now I discovered the underlying edges that will determine the upcoming outcomes, therefore we are looking at all the important levels and likely destinies.

As when looking at my chart we can watch there how XRPUSD moved to the upside after reaching the projected head-and-shoulder target-zone, this initial upside bounce now moved into the remaining resistances marked in my chart with the red box where XRP has several important resistance also established by the previous neckline and the descending-resistance-line, this is why we can expect a pullback to show up here moving into the lower zones again and testing the support lying there, in this case, XRPUSD will continue with the pullback till there is support found in which it can stabilize and back-up again to test remaining resistances anew, this will highly likely happen within the confirmational-bounce-cluster marked in my chart in blue.

Taking all these factors into considerations XRPUSD has some good potentials given to form a possible reversal within the structure, therefore it is necessary that XRPUSD manages to bounce decisively within the confirmational-bounce-cluster as it is marked within my chart because when this does not happen and XRPUSD moves below it the bearishness will continue firstly however when XRPUSD manages to bounce within the structure and move above the descending-resistance-line it will activate the bullish continuation and testing of remaining resistances lying higher in the structure after that the next conclusions can be made and a possible continuation fully elevated, it will be an interesting journey ahead.

In this manner, thank you for watching the analysis, have a good day and of course good trading, all the best!
"Trading effectively is about assessing possibilities, not certainties."

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

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