I was able to take another profit from yesterday’s call:

https://www.finlogix.com/analysis/20240311/xrp-intraday-analysis-and-trading-plan-for-march-11-2024

I’m now having an even record of 5 wins and 5 losses.

After a quiet Monday, the long list of 12 US major economic data to watch for the week with the heavy ones like CPI month-over-month and year-over-year will be released tonight.

Markets will be subject for moderate to heavy volatility, XRP is not exempted.

Re-assessing XRPUSD’s high timeframe candles:

Yearly Candle: A Small Green Long Legged Doji since last check now a Green Hammer

Monthly Candle: A Green Spinning Top with Longer Head and Tail Wicks since last check now a Green Body with Longer Tail Wick

Weekly Candle: A Green Long Lower Shadow since last check now a Green Body with Equal Head and Tail Wicks

Daily Candle: Previous close is a Big Green Body with a Slightly Longer Tail Wick current is developing a Red Spinning Top

XRP has successfully broken its lower high (LH) trendline.

Good holding of XRPBTC support levels that aided yesterday’s pump. If the pair has truly found its basement, XRP against the US Dollar will benefit from it.

Bitcoin has printed a new all time high again and XRP followed suit in the process.

After breaking the LH trendline, XRP buyers immediately stepped in flooding the market.

By revisiting the 0.50 levels one more time during the weekly opening, it solidified the move higher.

The revisited 1st layer OB and the supporting 4H 100-SMA give further confluence.

The XRPUSD surpassed my expected targets yesterday! What matters most is I took profit still and the analysis was on point! We gain confidence from this.

We can see a new bullish 4H FVG formed in yesterday’s pump. The 78.60% fib retracement level is residing near its upper territory. These areas allow re-buybacks on the current cooling down buying pressures.

XRP bulls will definitely target the November 13, 2023 external highs first before extension run towards the 0.90-0.95 massive supply zone. We need a corrective structure to occur first thus keep an eye on consolidation on the new 4H FVG I mentioned.

It’s good to see that XRP is working its way to catch up with Bitcoin.

These are the following new long entries:

XRP Intraday Analysis and Trading Plan For March 12, 2024

Mar 12 2024

2