The 0.56-0.57 order block has finally failed to hold as a support after the huge drop led by Bitcoin on Friday.

Followed by a second drop on Saturday, XRP returned to 0.40 levels sweeping off the external lows located in January 2024 including October and August 2023.

I have prevented a big loss for my April 9 long trade:

https://www.finlogix.com/analysis/20240409/xrp-intraday-analysis-and-trading-plan-for-april-9-2024

A new overall record of 6 wins and 8 losses.

There are 5 US major economic reports scheduled this week with a key highlight on Fed Chair Powell’s another speech on Wednesday.

Last week was great for the US Dollar and has been fired up more from the new geopolitical crisis between Iran and Israel.

Re-assessing XRPUSD’s high timeframe candles:

Yearly Candle: Last check is a Green Doji now Red Spinning Top

Monthly Candle: Last check is a Red Long Lower Shadow now a Red Body with a Longer Tail Wick

Weekly Candle: Previous close is a Red Long-Legged Body with a Longer Tail Wick current is developing a Small Red Hammer

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

Latest market events have faded XRP’s hope for a major breakout towards the strong 0.75 resistance.

Thursday’s reclaiming on the 0.60-0.62 psychological levels were short-lived.

The crypto markets’ recent fallouts can be referred to as a bull reset offering fire sale for most investors and traders alike.

But we are yet to determine if there’s a likely move up again as the macro-economics, geopolitics and fundamentals are souring against the markets.

XRP investors and traders alike remain cautious as a court trial is set to happen next week while Bitcoin halving to occur sometime between this coming Friday and Saturday.

Last Saturday’s drop re-offered XRP on a decent discount never seen since August 2023.

However, we can see a huge and nasty bearish FVG formed over the weekend.

Yesterday’s candle has helped to continue XRP’s bullish intentions and is currently holding up intraday.

If XRP bears want to extend a further drop, they need a lot of work to retrace yesterday and Saturday’s lows.

For the meantime, XRP bulls are fighting to push price back above the important 0.50 levels.

Based on my experience, current structure suggests XRP to break yesterday’s high, challenging potential buybacks starting from 0.51 to 0.55 first before we can say the new bearish daily FVG gets targeted.

For now, the XRP bulls need a lot of work to do.

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.

XRP Intraday Analysis and Trading Plan For April 15, 2024

Apr 15 2024

Take Profit +10.03%

Holding time 7d2hr

0.49897

Entry price

0.54901

Take profit price

1