Welcome to this update-analysis about XRPUSD, we are looking at the hourly timeframe perspective, the recent events, the established formational structure, and what we can expect within the upcoming times. Since XRPUSD as expected has properly completed the bear-flag within the structure and after that reached the full bear-flag-targets in the schedule to back-up with an initial wave-count testing the remaining resistance to hold the current trading-range I discovered the omnipresent factors relying here, if you did not see these analyses I highly recommend to watch these as this analysis is coherently building up on the previous ones, therefore I detected all the important levels and likely outcomes.
As when looking at my chart now we can watch there how XRPUSD completed the wave-count and pulled back from the remaining resistance to bounce within the support in the structure, now in this range XRPUSD has developed this potential bull-flag that can show good possibilities when completed, within this bull-flag XRPUSD has formed this coherent wave-count with the waves A to B already almost completed and the wave C remaining the next times. XRPUSD has formed some solid supports here coming all together within this support-cluster marked with the red box in my chart consisting of the ascending-trend-line and the horizontal support holding the bullishness to the upside and possible source of further validations.
XRPUSD is in a situation where it marginally shows some reversal signs from the heavy downside , in this case, XRPUSD has developed some interesting formations that can determine the next movements in the structure when the right price-actions show up here, therefore it is from high importance that XRPUSD really confirms to it and when this happens with XRPUSD completing this potential bull-flag it will indicating the testing of remaining resistances higher in the structure firstly determined within the 0.33, when XRPUSD reaches out these levels it has to be elevated how it moves on further from there and if there can be an immediate continuation or firstly a reversal visiting lower levels which is not unlikely here.
In this manner, thank you for watching the analysis, have a good day and of course good trading, all the best!
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Information provided is only educational and should not be used to take action in the markets.
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