XRPUSD, Major Descending-Wedge-Formation, How It Completes!

Hello,

Welcome to this analysis about XRPUSD, we are looking at the 12-hour timeframe perspectives. In recent times I detected that XRPUSD has reached some very important levels in the structure from where it has the ability to build up. Besides that, it formed a major formation that can be the source of determining breakouts and upcoming volatilities. It is also necessary to distinguish XRPUSD from the other cryptocurrencies as the divergence between the currencies is increasing more and more. While there are cryptocurrencies with more bearish structures or neutral structures there are others like XRPUSD with a given bullish edge, therefore I detected all the important levels and likely determinations we should consider with XRPUSD.

Structural Developments:
As when looking at my chart we can watch there how XRPUSD has continued with its bearish alignments to the downside and now recently reached an important level which is the ascending-trend-line marked in my chart in black. In this trend-line XRPUSD printed several bounces to the upside previously therefore it is a strong trendline that is likely to be the origin for further volatilities. Besides that XRPUSD has formed this massive descending-wedge-formation marked with the blue boundaries, within this wedge XRPUSD has the coherent wave-count with the waves A to E already completed meaning the price-action is ready to markup as the wave-count has finalized.

Upcoming Determinations:
Taking all these factors into consideration XRPUSD has formed a structure in which it can build up and finally complete a substantial upside continuation, this will be confirmed when XRPUSD breaks out above the upper-boundary of the descending-wedge-formation. Especially when XRPUSD then also marks above the 25-EMA in red this will be the completion of the whole wedge-formation and will be the setup for the further continuations to the upside. Once the wedge is completed XRPUSD will activate the target-zone marked in my chart in blue at the 0.942 level, once this level is reached the situation needs to be elevated anew and if XRPUSD manages an immediate continuation or firstly reverses which will not be unlikely.

In this manner, thank you for watching my analysis about XRPUSD, great when you support it with a like and follow or comment for more market insight!
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Information provided is only educational and should not be used to take action in the markets.