Technical Analysis of Intraday Price Movement of Ripple Cryptocurrency, Friday January 12, 2024.

From what we can see on the 4-hour chart, the Ripple cryptocurrency appears to have succeeded in breaking above its ranging area (blue box) and has also succeeded in breaking through the Ross Hook (RH). Now Ripple will try to break above the next Ross Hook (RH) at level 0.6231. and if the momentum and volatility are sufficient to support it, it is not impossible that the 0.6574 level will be the next target to be aimed at, however, Ripple has the potential to be corrected downwards first before continuing its strengthening, where the level of the bullish Fair Value Gap area (Cyan box) and the bullish Orderblock level at level 0.5672 appear to be will be a magnet for Ripple at this time, but as long as this weakening correction does not fall below the 0.5525 level, the strengthening scenario outlined previously is still valid.

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