XRP 4-hour chart
2024-12-11
Category: None

Dear Traders,

Over the past few days, the crypto market, including BTC, has experienced a significant pullback. Observing the XRP 4-hour chart, it’s evident that price has retraced into internal liquidity—specifically to test the 50% consequent encroachment of the weekly Fair Value Gap (FVG), which coincides with a 4-hour order block.

Using the principle of movement from internal to external liquidity, there’s a strong possibility that this retracement marks the bottom. The next logical target is the external liquidity at $2.90 USD.

For this setup:

Entry: Around $2.15 USD, at the 4-hour order block and FVG alignment.
Stop-Loss: Positioned at $1.90 USD, below the previous low to protect against invalidation.
Target: External liquidity resting at $2.90 USD, with further potential toward $3.01 USD if momentum persists.
Additionally, it’s worth noting that this weekly gap aligns with the lower boundary of the daily dealing range, adding confluence to this potential reversal zone.

Trade wisely and always protect your capital,
Lord MEDZ