XRPUSD, Two Scenarios Looking To Finally Complete The Formation!

Hello Traders Investors And Community,

Welcome to this analysis where we are looking at XRPUSD 12-hour timeframe perspective, the recent events, the current formational structure, what are the two most likely scenarios here and how to possibly handle the situation appropriately. XRPUSD is in a long-lasting bottom-developing process where it already built the left shoulder and head of this huge inverse head-and-shoulder-formation, also important here is that XRPUSD finally moves above the descending-trend-line and also bounced again from it after a pullback, currently, XRPUSD is still in the process to show up with its final bottom and there are some important price-actions which should not show up in order to finally confirm this massive formation and show a continuation, therefore I detected the necessary levels and outcomes we should consider at the moment.

Looking at my chart you can watch there that XRPUSD has now firstly completed the wave E within the neckline and bounced back from there to test the descending-trend-line where it is setting up again to form further bullish action, this will be crucial as the strongness of the bulls will determine the proper scenario as it is seen in my chart, either XRPUSD manages to gain that much volatility to finally form a breakout above the neckline directly and result into the E-Wave-Extension as it is marked in red in my chart or XRPUSD firstly consolidates between the neckline and the lower-boundary which will also be a bullish consolidation, this will gain strength in the range before the final breakout above the neckline can emerge, bot scenarios leading to a final E-wave-extension and testing of upper levels such as the upper resistance in scenario 1 and the upper boundary in scenario 2.

Either the first or the second scenario can show up properly when XRPUSD stays sustainably above the lower boundary and do not fall below this because such price-action can invalidate the bullish perspective which is not the most likely outcome as the bullish one can be much more expected nevertheless it should not be underestimated here. The next times will be decisive as they will determine how XRPUSD reacts into the neckline and moves on further from there, when this will be a strong decisive volatile move the possibility for a direct breakout is given, on the other side when this is not that strong with weakening in the structure it is more likely then that XRPUSD shows up with the second scenario, either way, it will be definitely interesting how XRPUSD develops further here.

In this manner, thank you everybody for watching, have a good day as well as good trading, all the best!
“Marvels tend to happen outside the usual experiences.”

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