The King sits erect upon his white horse in the shallow waters of a river. The white horse is a solar animal that was the steed of the gods and it symbolized force subdued by reason. The white horse also symbolizes pure intellect.

The river is associated with the flow of spirit or of insight. It can also represent the flow of one's own energies. It can be associated with one's life path or direction and could indicate cooperation (going with the flow).

According to Barrett, the King's waistband shows a nobleman offering waterside plants to the hippopotamus god of the Nile. I can find no reference to a hippopotamus god of the Nile. Set took the form of a hippopotamus during his battles with Horus, but Set wasn't connected to the Nile. There is a hippopotamus goddess named Taueret, who signified bounty and protection. But I don't see any direct connection of her to the Nile either.

The horse's blanket is red and blue and is decorated with images of figures holding chalices.

A waterfall rages behind the King. The waterfall can be associated with the flow of one's emotions, ideas, insights, etc. It can symbolize a spiritual flow, a cleansing or the process of healing. It suggests the need to cleanse oneself physically, mentally or emotionally.

A peacock displays its plumage along the pebbled edge of the river. The peacock represents immortality, longevity and love. It's a solar animal, its fan representing the sun.

A crab rests at the edge of the river. The crab suggests having a hard exterior or impenetrable emotions. It's a lunar animal and therefore is associated with the unconscious. It's a symbol of unreliability.