XRP is gearing up for a price upward reversal after a potential yearly 2024 bottom.

As a result, my June 11’s long trade has exited in another loss after holding for 2 days and 14 hours:

https://www.finlogix.com/analysis/20240611/xrp-intraday-analysis-and-trading-plan-for-june-11-2024

An updated overall record of 8 wins and 12 losses.

The US is set to have 2 remaining high impact economic reports this Friday evening.

The crypto markets in general including XRP continue to recover towards the weekend after intraweek’s fall out.

Re-assessing XRPUSD’s high timeframe candles:

Yearly Candle: Still a Red Spinning Top since last check

Monthly Candle: Still a Red Long Lower Shadow since last check

Weekly Candle: Previous close is a Red Long Lower Shadow current is a Green Long-Legged Doji

Daily Candle: Previous close is a Red Inverted Hanging Man current is a Green Long Lower Shadow

Note: I’m using Tradingview.com under the XRPUSD pair in Bitstamp Exchange to thoroughly re-assess these high timeframe candles.

A 3 straight frustrating weeks after the initial June 7 dump followed by last week’s dump then a weak intraweek opening but selling pressures have subsided till Tuesday.

The crypto markets have been saved by the bell from Tuesday’s weaker US Retail Sales reports but not yet of the woods as bears are looking for the 2 remaining high impact reports tonight.

I will be referencing shallow retracement points of view from June 17 swing high to June 18 swing low.

These points both form bullish and bearish mini trends that respectively target 0.47-0.55 range levels upward and 0.39-0.44 downward price trajectories.

Current price is hovering in the discounted array’s 61.80% fib retracement level in the bullish mini trend’s direction.

And if I’m right to call that XRP just had its 2024 bottom this June, then a new price upward trajectory soon commences.

I’m going to long XRP again while it’s still sitting around a discount array that is bound for a price shooting up.

My take profit is targeted towards the previous swing move’s 50% area that has failed to sustain during last week’s dump.

The XRP bulls are aiming for that area soon.

I will be putting a quick and tight stop loss at Wednesday’s lows only.

Note: Different liquidity providers may have set their prices differently compared to Finlogix. Adjust accordingly.

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 June 21, 2024

Jun 21 2024

Stop Loss -3.67%

Holding time 3d0hr

0.43896

Entry price

0.42287

Stop loss price

1