XRPUSD, Establishments In Descending-Channel, Important Zones!

Hello Traders Investors And Community,

Welcome to this analysis about XRPUSD, we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. XRPUSD the last times is one of the more volatile pairs within the market as it moved strongly to the down as well as to the upside in a volatile manner, such measurements are not seldom followed by a swift and strong breakout-move into either the upside or downside direction, in this case, I detected a decisive formation XRPUSD is building here now that can lie ground for upcoming worthwhile determinations, therefore I discovered all the important levels and likely destinies we should consider within the established structure and upcoming movements.

Structural Developments:
As when looking at my chart now we can watch there this bearish move of XRPUSD strongly below the previously established supports and now testing the major 300-EMA marked in red in my chart which is a strong resistance in this case coming together with the upper-boundary of the descending-channel into this main resistance-cluster marked in red in my chart from where a pullback to the downside is highly likely and should be expected next times, this pullback will validate also to the wave-count XRPUSD is currently trading within and therefore the resistance-cluster is likely to be the origin of the sub-wave C to the downside moving into the lower ranges and continuing with the next proper waves within the wave-count to test remaining supports.

Upcoming Determinations:
Taking all these factors into consideration now XRPUSD is trading within this major descending-channel-formation from where a breakout sooner or later is possible to show up, therefore XRPUSD rightly needs to continue with the wave-count to the downside and with the finalization of the wave E bouncing from the lower-support marked in blue in my chart, this bounce from the level is highly important because when it does not happen and XRPUSD continues bearishly this can also invalidate the formation. For now, it will be important to elevate how XRPUSD continues with the wave-count as suggested and how it manages to complete this whole formation potentially in the structure, when this shows up it can lead to a great reversal ahead of upcoming times.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and 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 market.