After five days of declines, Ripple is up $0.006 today

Small gain for Ripple at $0.48 after ranging between $0.471 and $0.485 today.

Ripple made an initial breakout above its 50 day Simple Moving Average at $0.476, a potential indicator of a newly emerging bullish phase. Ripple's lower Bollinger Band® is at $0.469, indicating that the market is oversold and fertile for new buyers. In contrast, although XRP is appreciating today after rising as high as $0.485, price action is now slowing and consolidating around 1 cents below the $0.483 resistance level.

Ripple continues to move higher with technical analysis indicating the trend will continue in the short term.

Other markets are also showing gains as FTX Token is up 9.54%. Binance Coin is up 2.71%. MaticNetwork USD climbs 4.53% to trade around $0.616.

The past 3 months have been positive for XRP as it added 23.97% compared to its 3-month low of $0.307. Ripple has a market cap of 24.98 billion with an average daily volume of 1.34 billion.