After seven days of declines, Ripple is up $0.002 today

Currently trading at $0.463, Ripple remains range-bound between $0.458 and $0.465.

Ripple made an initial breakout above its 5 day Simple Moving Average at $0.462, a potential indicator of a newly emerging bullish phase. XRP's lower Bollinger Band® is at $0.436, indicating that the market is oversold and fertile for new buyers. Despite this, XRP could be slowing down soon as it approaches resistance at $0.464. Of course, crossing it might suggest further gains are ahead.

Examining the technical analysis landscape, Ripple might continue its downtrend in the short term.

Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $1,877.66, Ethereum is up 4% today to currently trade at around $1,953. Polkadot is up 3.41%.

This year has been a bright one for XRP after trading as low as $0.307 and going on to appreciate by 35.28% year to date. XRP has a market cap of 24 billion with an average daily volume of 1.11 billion.