How This Potential H-S-Formation Can Alter XRPs Dynamic!

Hi,

Welcome to this Middle-Term-Analysis about XRPUSD, we are looking at the 4-hour timeframe perspective. The cryptocurrency market-environment has changed, it is not what it was back in the bull-market in 2017 where just everything moved straightly into one direction, the divergences between certain currencies have increased exorbitantly as there are currencies forming more bullish dynamics, while others go sideways there are also others going into the contrary direction of the average main market, these divergences are highly important to distinguish between the certain currencies and this is why it is so necessary that we do not just trade what we think and what we wish to the market is going to as the market is constantly altering and many different factors taking place these days the market needs to be assessed from different angles and approved in new ways otherwise it is just speculation and approach into a "wish"-direction, as market makers and smart money do not care about, it so inevitably to prepare onto the changes within the market and then take the appropriate action.

As when looking at my chart we can watch there XRPUSD is about to form a quite decisive formation here which is a major possible inverse head-and-shoulder-formation however to complete this formation XRPUSD has to confirm several price-actions in its structure to fully validate this formation otherwise the possibility for invalidation of this formation is also given. At the local perspectives, we see XRPUSD with some important resistance-zones and supply lying within the structure between the 0.3325 and 0.35 level marked in my chart where the possibility is high for a bearish pullback to the downside which can form the right shoulder of the formation this bearish pullback will fully protract below the EMAs as they are marked in my chart and will then move on to the lower supports to test them when XRPUSD then manages to stabilize within these supports marked in my chart with the blue box XRPUSD can move on to form the right shoulder and forward to final completion of the formation, it will be from high importance that XRPUSD, in this case, bounces from the lower support otherwise when moving below this will invalidate the formation.

In this manner, thank you for watching the analysis, have a good day, 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 markets.