Why And How XRP Can Form A Upcoming Reversal In Its Structure!

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. In recent times XRPUSD was one of the more volatile currencies within the market showing heavy ups and downs while still remaining in a downtrend nevertheless this downtrend, for now, is rather weak than really strong, this is why I discovered a decisive formation XRPUSD is building here that can lead to a potential reversal in the structure ahead upcoming times, therefore it is inevitably necessary that XRPUSD does not show up with increased bearish signs invalidating it again, therefore I detected all the important levels and likely perspectives.

Structural Developments:
As when looking at my chart now we can watch there how XRPUSD is trading within this major descending-channel-formation marked in my chart in blue, besides that XRPUSD has the coherent wave-count within the formation and within this wave-count already completed waves A to C in the structure. Now XRPUSD is moving on the form the wave D within the schedule which is also confirming to this significant second bear-flag as the first one already completed highly bearish to the downside the second one is also likely to confirm as such. In this case, the resistance cluster within the formation is likely to be the origin of wave E to the downside that will finalize the whole wave-count and test lower levels of support upcoming.

Upcoming Determinations:
Taking all these factors into consideration it will be determining on of XRPUSD approaches the back-up-cluster and how it possibly manages the bounce from this cluster, when XRPUSD shows up with a solid bounce to the upside then this can lead to a final breakout above the upper boundary of the descending-channel-formation as marked in my chart. Such a price-action will finally fully validate the reversal and indicate further levels to be tested. For now, it is highly necessary to elevate how XRPUSD approaches the levels and how it develops in the upcoming times, therefore it is also important to do not for now underestimate the bearishness before a final good reversal did not show up.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
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Information provided is only educational and should not be used to take action in the market.