XRPUSD, How A Decisive Channel-Breakout Can Establish!

Hello Traders Investors And Community,

Welcome to this analysis about XRPUSD, we are looking at the 4-hour timeframe perspective, the former events, the established formational structure, and what we can expect in the upcoming times. As already mentioned in previous analysis XRPUSD has formed this major symmetrical-triangle-formation which it already completed and moved on with the sufficient upside-breakout. This breakout and formation is now validated by XRPUSD with great price-action above. Now on the more local 4-hour timeframe perspective, I discovered a further decisive formational structure that will be worthwhile in the upcoming determinations, therefore I detected all the important levels and likely destinies we should consider with the established structure and upcoming movements.

Structural Developments:
As when looking at my chart now we can watch there how XRPUSD has established this main descending-channel-formation marked with the boundaries in black, the upper-boundary of the channel was already tested by strong bullish price-action however XRPUSD did not yet fully managed to form the breakout rather it is now mingling below the boundary which is a sign that an initial pullback will firstly develop here before stabilization and breakout-attempt above the upper-boundary of the descending-channel can finally approve. In this case, XRPUSD has the confirmational-bounce-cluster where a bounce to the upside is highly likely as there are several supports coming together and lying fundamental ground for a proper bounce to the upside.

Upcoming Determinations:
Taking all these factors into the consideration now XRPUSD is on the global perspective still on a very good edge to set-up and continue with bullish alignments. On the local perspective, it is similar and when XRPUSD shows up with the right price-actions to bounce from this major confirmational-bounce-cluster this will lead to a great channel-breakout above the upper boundary of the channel, such a price-action will activate the wave C to develop as marked in my chart and test the upper resistance-zone which will be a crucial factor then because when XRPUSD manages to close above this resistance finally this can be the building up for further developments to the upside, 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!
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Information provided is only educational and should not be used to take action in the market.