XRP/USD Preparing for the long awaited bullish move up

26 Eki 2020

XRP/USD seems to have almost completed it's long awaited consolidation at the bottom.
Analyzing the previous market structure, on the Monthly, Weekly and Daily, indications show that we are in a now starting the bullish trend, where we will finally see an upwards push.

Criteria for my forecast are:
Note: This analysis takes into consideration both the SPOT market as well as the Derivatives (FUTURES) markets on various crypto exchanges.

1/ On the MONTHLY chart, the Previous Orderblock where previous High structure (on the close, not the top of the wick) has been broken, thus signalling a confirmation of reversal. This includes a 'Larry Williams' trend confirmation.

2/ On the WEEKLY chart, I see the end of a final consolidation before a push upwards, for confirmation of a Level 1 move.
This also includes a 'Larry Williams' trend confirmation.

3/ On the DAILY chart, I see again more Larry Williams trend confirmation as well as structure being respected, both with a DAILY Liquidity Void being filled (Usually they fill it to around 50%).

However, there could either be
a) A wick down to the Breaker (which on the FUTURES markets, a wick has already happened, down to 18 cents), therefore I see another wick towards the breaker. I see this as low probability.

b) A final move down to the Mitigation Block, before launching, I see that as highest probability

Next target is at the 33 cents range. Once that target is achieved I will do another analysis.