XRPUSD, Zone Confirmed, More Likely To Continue Currently!

Hello Traders Investors And Community, welcome to this update-analysis where we are looking at XRPUSD 4-hour timeframe perspective, the recent events, the current formational structure and what to expect the next times. Since recently XRPUSD confirmed the possible short-zone properly with a heavy bearish move to the downside, in this case, I added some lines and indicators and made some thicker to underline what is important currently. The big question now is if XRPUSD is strong enough to form a reversal and move to the upside again or if it will continue with its bearishness to the downside further, as I detected the bearish scenario is more likely, nevertheless, there are important factors which need to be fulfilled in the structure for XRPUSD to confirm the next moves otherwise these can still be invalidated by XRPUSD confirming further bullishness, therefore, confirmation is also meaningful in the structure.

Looking at my chart you can watch there that XRPUSD has bounced at the 300-EMA in green to the upside, currently, this is an important reference point here which when broken below will confirm further bearishness, the next times we can expect a consolidation here as it is marked in my chart which will either move to the upside or break to the downside. There are still strong resistance levels lying and the established bearishness was just to solid to consider a reversal currently more likely, therefore the continuation to the downside is more within a possible spectrum which will show up when the price moves decisively below the 300-EMA which will move XRPUSD into the bearish-continuation-zone seen in my chart, it is important that XRPUSD closes below the 300-EMA otherwise above the bearish scenario can still be invalidated with a move above the 60-EMA in black.

In this manner, thank you for watching, support for more market insight, good day to you and all the best!
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Information provided is only educational and should not be used to take action in the markets.