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10.03.202307:22 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of Ripple Cryptocurrency, Friday March 10, 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 10.03.2023 analysis

There are 2 interesting things on Ripple Cryptocurrency daily chart:

1. The appearance of deviation between price and Awesome Oscillator indicator.

2. Formation of Bullish Continuation Failing Wedge pattern.

Based on 2 things above it is very likely that Ripple will appreciate up and up to break above the 0.3988 level. If this level is successfully broken, then the 0.4305 level will be the target for the next level which will be tested in the next few days provided there is no downward correction that exceeds the 0.3502 level because if this level If it is successfully penetrated below, all Bull scenarios that have been described will become invalid and cancel automatically.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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