Welcome to TRS
What engine, 3.0l or 4.0l?
Cold engine Compression on either V6 should be 150+ psi on each cylinder, so have the gauge checked out
Under 120psi is when misfires happen
Lets assume your gauge was just reading low, then the 20psi difference is ALOT, like 20% at 110psi average, 10% is acceptable at 150psi average
So I wouldn't skip over "its not a compression issue" just yet and retest so you don't end up chasing your tail with spark and fuel issues
1999 Ranger will have OBD2 for troubleshooting, so has several system monitors
Basic misfires derived from less power added to crank after a cylinder fires, or doesn't, from Cam sensor
Feedback from coils in the pack, a spark misfire, every time a coil fires PCM(computer) will get a voltage surge showing that coil sparked BOTH of its spark plugs
Only 3 coils in the coil pack, each coil sparks 2 cylinders, 1/5, 2/6, and 3/4 are the pairs
So have the codes read
You can get an Bluetooth OBD2 reader for $15 and APPs are free or $5
Works on ANY vehicle 1996 and newer so a good tool to have
If you can get EXACT codes, that will help you, Ford Code list here:
https://www.therangerstation.com/tech/obd-ii_trouble_codes/
As you can see its very detailed and why EXACT codes are needed, lol