The 0.60-0.62 psychological levels were breached from yesterday’s upswing move creating a new bullish FVG in the process.

After holding for 13 hours, last Wednesday’s trade plan has scored a win:

https://www.finlogix.com/analysis/20240403/xrp-intraday-analysis-and-trading-plan-for-april-3-2024

A new overall record of 6 wins and 7 losses.

There are 9 US major economic reports for this week with key highlights on the CPI data on Wednesday.

The crypto markets including XRP have bounced back from last week’s slump. Bitcoin has also reclaimed the former 69K ATH level.

There will be plenty of volatility to occur as the markets enter the mid week.

The grand trial between the Ripple and SEC is scheduled critically on April 23.

Re-assessing XRPUSD’s high timeframe candles:

Yearly Candle: Last check is a Red Long-Legged Spinning Top with a Small Body now a Green Doji

Monthly Candle: Previous close is a Red Body with a Longer Tail Wick now a Red Long Lower Shadow

Weekly Candle: Previous close is a Red Body with a Longer Tail Wick current is a Green Body with a Longer Head Wick

Daily Candle: Previous close is a Green Body with a Longer Head Wick current is developing a Green Hammer

Since XRP has found a bounce back on the 0.56-0.57 OB, this gives hope for a major breakout towards the strong 0.75 resistance.

This resistance level remains a viable supply zone target.

As the grand trial approaches, both investors and traders alike remain cautious.

With the presence of a newly established 4H bullish FVG, XRP will have strong bids down low.

For now, there’s a confirmed pullback from the immediate resistance found at 0.62-0.63 levels.

To maintain a bullish narrative, price must stay above the 0.60!

I will keep buying XRP with these new long orders:

I’m entering through a possible pullback intraday extending throughout the week. I have set the stop loss above the 0.56-0.57 OB while targeting the 0.65 external resistance.

XRP Intraday Analysis and Trading Plan For April 9, 2024

Apr 09 2024

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