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18.11.202206:14 Forex Analysis & Reviews: Technical Analysis of Ripple Cryptocurrency Intraday Price Movement Friday November, 2022.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 18.11.2022 analysis

If we look at Ripple's 4-hour chart, a Double Bottom Pattern will appear on this cryptocurrency accompanied by price movements that are above the Moving Average and are restrained by the Bullish Fair Value Gap area level which serves as a strong enough Support Area level to make Ripple which in the near future has the potential to test the level above its current price of 0.3946 as its first target where this level is a gathering place for liquidity (Equal High) and the level of 0.4146 which is the Mitigation Block level from its daily chart will be the next target to be tested but please pay attention to level 0 of the CCI indicator if it is broken down to the bottom plus the level below the current price of 0.3387 is successfully broken down, the upward rally scenario described previously will cancel itself.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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