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22.09.202306:03 Forex Analysis & Reviews: Technical Analysis of Intrday Price Movement of Ripple Cryptocurrency, Friday September 22, 2023.

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 22.09.2023 analysis

If we look at the 4-hour chart, the Ripple cryptocurrency appears to be moving in ranging conditions, but it can be seen that Buyers are starting to try to dominate, which can be seen from the CCI indicator which has managed to penetrate its 3 main levels (-100, 0, & 100) and the price is moving above its Moving Average. which coincidentally also has an upward slope so that based on these data, this Cryptocurrency in the near future has the potential to appreciate upwards to test the Equal High level of 0.5244 as long as there is no downward correction that exceeds the 0.4863 level and Ripple succeeds in breaking above the 0.5244 level. then Ripple has the potential to rally upwards to test the level of 0.5490.

(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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