After three days of declines, XRP is up $0.017 today

Marginally higher but lacking a clear-cut direction, XRP is trading at $0.524 after ranging between $0.506 and $0.525 today.

Although up today, early price action saw Ripple dropping below its 5 day Simple Moving Average at $0.506 — an early indicator that a new downward trend could be emerging. Ripple's upper Bollinger Band® is at $0.53, this is a slight indication of a slowdown. On the other hand, note that price action remains constrained around the key Fibonacci level of $0.513 currently serving as resistance Ripple broke through the $0.515 resistance and climbed above it 1 cents; next resistance level is at $0.523.

Technical analysis of Ripple price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.

Ripple shows positive signs, other assets are also on par: FTX Token leaps up 9.54% to trade around $1.36. TRON gained 2.59% and is currently trading at $0.077. Cardano rises 3.57% to trade around $0.378.

The past 3 months have been positive for XRP as it added 34.17% compared to its 3-month low of $0.307. Ripple has a market cap of 27.24 billion with an average daily volume of 958.92 million.