XRPUSD, Forms Decisive Descending-Channel, Important Scenarios!

Hello,

Welcome to this analysis about XRPUSD, we are looking at the 2-hour timeframe perspectives, the recent events, the established formational structure, and what we should consider in the upcoming times. As I discovered here XRPUSD forms an interesting formational structure that can be the source for upcoming dedicated volatility. Therefore it is necessary that XRPUSD shows up with the right price-actions and does not invalidates such a formation that can lead to the breakout and increased volatility. However, when XRPUSD manages to determine the right price-actions this can lead to some good potentials with the given opportunities ahead of the upcoming times.

Structural Developments:
As when looking at my chart now we can watch there how XRPUSD has formed this major descending-channel-formation with the boundaries marked in black. Besides that XRPUSD has the coherent wave-count in the formation and the waves A to C almost already completed. Now XRPUSD has reached the lower boundary with the ending of wave C once again and a bounce is likely to occur in this structure as there are some good supports lying. This is why XRPUSD is likely to have its appropriate origin of the wave D to the upside within this lower boundary zone which will be important for the further determinations of the wave-count in the whole descending-channel structure.

Upcoming Determinations:
Taking all these factors into the consideration now it will be important on how XRPUSD continues and moves on with wave D to approach the upper-zone, what is important to mark here is that XRPUSD still has this main-resistance-cluster in the upper-boundary region marked in my chart in red. This is why XRPUSD will likely pull back once the resistance-cluster is reached and after that continue with the wave-count mainly emerging with the wave E that will complete the whole wave-count and approach the major confirmational-bounce-cluster marked in blue. When XRPUSD manages to bounce in the cluster and sufficiently continue with bullish determinations this can finally lead to an upside-channel-breakout above the upper boundary however for now it has to be shown how XRPUSD continues further and manages such scenarios ahead of upcoming times, it will be an interesting journey.

In this manner, thank you for watching my analysis about XRPUSD and the main descending-channel-formation with the upcoming possibilities we should consider, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, 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.