XRPUSD, Since Pullbacks To Support, Further Developments!

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. Since XRPUSD formed the main bullish breakouts above the upper-boundary of the triangle-formation I already mentioned before it has shown up with initial pullbacks testing the previously established supports that for now properly held, in this case, I discovered a further interesting formation XRPUSD is developing now that can lead to a potential breakout when XRPUSD manages to show up with the right price-actions in the schedule, therefore I discovered all the important levels and likely destinies we should consider.

Structural Developments:
As when looking at my chart now we can watch there how XRPUSD is about to develop this massive ascending-channel-formation, within this channel-formation, XRPUSD has the coherent wave-count in which it already completed the waves A to D in the structure and recently with the destination of wave D moved into great supports lying within the lower boundary which also served as the origin of the wave E which is about to develop now. This wave E will move ahead and run to test the upper-descending-resistance-line with the resistance-cluster marked in my chart in red and as this is still a very strong resistance an initial pullback, in this case, is very likely and should be expected.

Upcoming Determinations:
Taking all these factors into consideration XRPUSD is in a situation in which it has developed this underlying formational structures that can move into great alignments, therefore it is necessary that XRPUSD manages to stabilize further in the structure after the likely pullbacks shown up when this happens and XRPUSD manages to bounce within the 300-EMA in red as well as the 160-EMA in green it can be the origin set-up for the breakout attempt above the upper-resistances. For now, it will be important to elevate how XRPUSD finalizes the wave-count and how it moves on further from there. It will be an interesting journey ahead.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"The high destiny of the market is to explicate, rather than to speculate."

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