31.05.202405:56 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Ripple Cryptocurrency, Friday May 31 2024.

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With the price movement which is move below EMA 50 & 200 as well as the appearance of Double Top pattern on the 4 hour chart of Ripple cryptocurrency gives the clue that in the near future Ripple has the potential to weak down to the level 0,5121. Indeed, the potential of strong correction is still there where level 0,5293 will become interesting Resistance level to test, but as long as the strengthening correction does not break above the level 0,5341, then Ripple still has the potential to weaken until the level 0,5046 as the main target and if the momentum as well as the volatility is supporting then level 0,4843 will be the next target to be aimed of.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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