XRPUSD, Decisive Head-Shoulder Forms, Important Considerations!

Hello Traders Investors And Community,

Welcome to this analysis where we are looking at XRPUSDs 2-hour timeframe perspective, the recent events, the current formational structure, what we can expect the next times, and how to possibly handle the upcoming situations appropriately. Since XRPUSD showed up with the protracted bearishness to the downside it recently stopped and managed to somewhat stabilize in the structure above the 0.228 level and form some very important price-action necessary to consider at the moment, a big question now is if XRPUSD manages to form a proper reversal here or if it invalidates this and falls more, when considering the reversal this can show up with some very good potentials when XRPUSD manages to confirm the right price-action, therefore I detected all the important levels and likely outcomes we should consider at the moment with XRPUSD.

Looking at my chart you can watch there that XRPUSD is currently about to form this possible inverse head-and-shoulder-formation with the left shoulder already formed and the head by definition also already, as you can watch the neckline marked in blue, which is origin of the left shoulder and the head, the next times, therefore, we can expect the right shoulder to take place and form which will happen when XRPUSD increases with bullish price action from here to the neckline as it is marked in my chart to finally form the major right shoulder and bounce properly at the end within the support between 0.2325 and 0.2335, this support is really necessary to hold and show up with bullish price-action from there because XRPUSD can possibly invalidate the whole formation when it moves below the support and closes there.

The next times it will be important how XRPUSD forms the right shoulder and bounces from the support when this happens as suggested and as it is marked in my chart, the breakout and final confirmation can emerge when the price-action pushes above the neckline and closes there to move on further from there, such price-action then will confirm the final setup to enter as it is marked in my chart, the whole mechanism can be traded either aggressively with immediate entry or conservative with entry after confirmation, although the aggressive entry is also possible here the conservative will be much more smarter as it will point the final completion of the formation and also activate the upper targets marked in my chart within the orange level, when these are reached it has to be elevated what happens after it and if the price manages to move on further or firstly shows up with a reversal.

In this manner, thank you, everybody, for watching, have a good day as well as good trading, 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 market.