empty
 
 
23.05.2025 09:04 AM
Technical Analysis of Intraday Price Movement of Ripple Cryptocurrency, Friday May 23, 2025.

This image is no longer relevant

If we look at the 4-hour chart of the Ripple cryptocurrency, it appears to be moving above the WMA (21) which has a steep slope and has successfully broken out above the High Value Area level (yellow) and then continues to move above the blue area (average) and is in the BUYERS sentiment area which is quite significant, then in the near future Ripple has the potential to strengthen up to the level of 2.5190 as its first target and if the volatility and momentum of its strengthening support it, then 2.5534 will be the second target that Ripple will aim for, but it is also necessary to pay attention to the potential for a weakening correction indicated by the appearance of the Rising Wedge pattern and "No Demand Bar" where the distance of the last small Candle body is followed by the last volume bar which is lower than the previous 2 volume bars, thus giving a signal indicating a "Sign Of Weakness (SOS) but as long as the weakening correction does not break and close below the level of 2.2840, the strengthening scenario for Ripple that has been described previously will continue.

(Disclaimer)

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback