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Crypto-currencies

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

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 30.08.2024 analysis

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
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