VincePrince

XRPUSD, Breakout Above Channel, These Are Possible Steps Ahead!

COINBASE:XRPUSD   None
Hello Traders Investors And Community,

Welcome to this analysis where we are looking at XRPUSD 2-hour timeframe perspective, the recent events, the current formational structure, what we can expect the next times and how to possibly handle the situation appropriately. XRPUSD at this time has formed quite interesting price-actions as it formed this preliminary descending-channel-formation where a bounce above the upper-boundary occurred with some really solid bullish pace, besides this breakout XRPUSD is forming the other formation necessary to consider here, overall XRPUSD can show some good potentials and catch up the cryptocurrency rally when it manages to show up with the proper price-actions, therefore I detected all the important levels and possible outcomes we should consider with XRPUSD at the moment and with the upcoming destinations.

Looking at my chart you can watch there XRPUSD is now forming this ascending-triangle-formation marked in blue where XRPUSD also completes this coherent wave-count which can be the origin of the final breakout to the downside when it confirms properly, this will happen when XRPUSD pulls back within the resistance-cluster it has formed within the upper-boundary marked in my chart in red, when XRPUSD bounces to the downside from there this will complete the whole formation bearishly to the downside with a breakout below the lower-boundary, such price-action will show the bearish continuation ahead moving into the upper-boundary of the descending-channel-formation where stabilization and ongoing continuation can possibly establish. The next times XRPUSD has to show how it manages to bounce from the back-up-cluster after the pullbacks came in, when this bounce occurs with good pace and momentum XRPUSD is likely to show up with a protracted bullish continuation upwards, with such price-action XRPUSD will also possibly catch up with the extreme bullish pace the major Bitcoin has formed and where XRPUSD still not showed up, this can indicate that the potentials just coming up after the proper price-actions set in.

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

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+1 Reply
Didn't age well.

Time to redraw some lines...
Reply
nice chart! thanks my friend 🦐👏🏻
Reply
nice chart bro
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