XRPUSD, Interesting Formation, Potentials Given When Completed!

21 Jan 2021

Hello Traders Investors And Community,

Welcome to this analysis about XRPUSD, we are looking at the 30-minute timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. As XRPUSD already has shown up with some important bullish up moves on the local perspectives the recent times before the current structure formed there is potential given that XRPUSD shows up with such volatility anew, in this case, I discovered a worthwhile formation XRPUSD is currently forming on the local perspective, therefore I detected all the important levels and likely outcomes we should consider with XRPUSDs established structure and the upcoming movements ahead.

Structural Developments:
As when looking at my chart we can watch there how XRPUSD is now about to establish this decisive descending-channel-formation marked in my chart in blue, within this formation XRPUSD is developing this coherent wave-count with the wave A to B already formed within the schedule and now with XRPUSD setting up to form the wave C within the zone, furthermore XRPUSD has some solid supports given within the back-up-cluster marked in my chart in blue where several supports coming together consisting of the lower-boundary, the 80-EMA in green and the 120-EMA in red making this zone a good zone for a strong bullish bounce to the upside and lying ground for further continuations.

Considerable Destinations:
Taking all these factors into consideration XRPUSD is in a situation where it has developed this strong formational structure and possibilities for the breakout and activation of targets, this will happen when XRPUSD finally closes above the upper-boundary as it is marked within my chart, such price-action will activate the upside-targets within the 0.23 level marked in my chart in orange in which the situation needs to be elevated anew when XRPUSD reaches out within these levels and elevated how it reacts there and if there comes a potential continuation further or XRPUSD firstly pulls back to visit lower levels again which is not unlikely in this case, for now, it will be important how XRPUSD manages to form the breakout, it will be an interesting journey.

In this manner, thank you for watching the analysis, have a good day, and of course good trading, all the best!
"Good luck is when opportunity meets preparation."

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