empty
 
 

30.06.202218:41 Forex Analysis & Reviews: Trading plan for Ripple on June 30, 2022

Exchange Rates 30.06.2022 analysis

Technical outlook:

Ripple dropped through the $0.30500 lows intraday on Thursday before finding support and pulling back. The crypto is seen to be trading at around $0.31500 at this point in writing and is expected to resume higher towards $0.44800 at least in the next few trading sessions. Bulls need to hold prices above the $0.28700 interim support to keep the structure intact.

Ripple has carved a larger degree corrective drop between $1.91600 and $0.28700 in the past several months. The above zigzag might have been complete and it could be the first wave of a much deeper correction below $0.28700 in the coming months. Ideally, a corrective rally should unfold towards $0.92750 at least before the next leg resumes lower.

Ripple has also carved a lower degree upswing between $0.28700 and $0.38700 in the past few trading sessions as the first step towards the proposed corrective rally. Furthermore, prices have also retraced towards $0.30500, which is close to the Fibonacci 0.786 level of the above upswing. The high probability remains for a bullish turn from here.

Trading plan:

Potential rally towards $0.44800 against $0.28700

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Oscar Ton,
Analytical expert of InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade



  • 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
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    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
Can't speak right now?
Ask your question in the chat.