XRPUSD, In The Channel, How A Breakout Can Emerge!

Hi,

Welcome to this analysis about XRPUSD, we are looking at the hourly timeframe perspectives. XRPUSD in recent times has shown up with initial pullbacks firstly testing the lower levels in the structure. Besides that, it has developed this descending-channel-formation marked with the black boundaries in my chart, within this channel XRPUSD has the coherent wave-count with the waves A to C already completed and now with price-action moving into the upper boundary, this is likely to be the origin of the wave E to the downside which will lead to the testing of the lower levels from where a back-up and bounce to the upside has good potential and when this bounce is strong enough it can lead to a final channel-breakout above the upper-boundary.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, 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 market.