30.08.202407:53 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Ripple Cryptocurrency, Friday August 30, 2024.

Relevance up to 01:00 2024-08-31 UTC--4

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Although the price movement of the Ripple cryptocurrency on its 4-hour chart is under Seller pressure, which is indicated by its price movement moving below the EMA 21, the appearance of a deviation between the Ripple price movement and the Stochastic Oscillator indicator gives an indication that in the near future Ripple has the potential to correct and strengthen upwards, where the level of 0.5838 will be tested by this cryptocurrency. If it is successfully broken upwards, Ripple has the potential to continue its strengthening to the level of 0.5998 as its main target and if the momentum and volatility support it, the level of 0.6305 will be the next target to be targeted, but all of these strengthening correction scenarios will be invalid and automatically canceled if Ripple continues its weakening to breaks below the level of 0.5446.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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