XRPUSD, Reaches Boundary In Range, This Is What To Expect Now!

Hello Traders Investors And Community,

Welcome to this analysis where we are looking at XRPUSD 4-hour timeframe perspective, the recent events, the current formational structure and what we can expect the next times. Not only on the higher timeframes is XRPUSD forming a interesting formation as it is about to complete the right shoulder I already mentioned in the previous analysis but also on the 4-hour timeframe it is showing some price-action worthwhile to look at, as XRPUSD established this ascending-channel-formation where it has already bounced within the upper and lower boundary it has now reached a point where it can follow up with the final wave in the structure, therefore, I detected all the important levels and likely outcomes we should consider here.

Structural Establishments:
Looking at my chart you can watch XRPUSD established this wave to the downside where it now determined within this blue back-up-cluster marked in my chart where several supports coming together, once this is the descending-trend-line marked in grey, second it is the 1000-EMA marked in black and also it is the lower boundary of the ascending-channel-formation marked in blue, these supports coming together and forming this coherent back-up-cluster where a bounce to the upside is more within a likelihood spectrum than not. Besides that it will determine the ending of major wave D together with the minor waves as they are marked in my chart, this cluster can also be the origin for the establishment of the final wave E to the upside.

Upcoming Considerations:
The next times it is important that XRPUSD holds this back-up-cluster sustainably and manages to bounce from here considering the final wave E to establish, when XRPUSD does not show up with this and rather closes below these levels it will continue with bearish pressure however the bounce from that level is at the moment more likely. The final wave E will be fully established when XRPUSD moves above the 200-EMA marked in my chart in green, when XRPUSD manages to move above this EMA and close there this will lie ground for the further continuations of the final wave determining to test the upper boundary within this resistance and a possible short-entry-zone as it is marked in my chart, it will be interesting to see how XRPUSD shows up with this further here.

In this manner, thank you for watching, good day my friends, and support for more market insight.
"Good luck is when opportunity meets preparation."

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