| 
June 23, 2023
A mostly flat day so far for XRP, ranging between $0.486 and $0.5; currently at $0.495.
Technical analysis trend indicators suggest that Ripple made an initial break below its 10 day Simple Moving Average at $0.488, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $0.492 currently serving as support. If price action breaks below, the next Fib hurdle is $0.479. Analysis based on the asset volatility indicates that XRP's upper Bollinger Band® is at $0.54 and the lower is $0.467. As the trading day comes to an end, chart analysis indicates Ripple reversed direction at $0.485 support zone and climbed 1 cents above it.
Overall, while XRP has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
At the same time, mixed performances are seen elsewhere as Bitcoin Cash added 32.14% to its value, now trading at $176.97. EOS is up 7.93%. FTX Token is up 9.54%.
Ripple has managed to gain 46.84% so far this year despite trading at lows around $0.311 previously. XRP has a market cap of 25.77 billion with an average daily volume of 1.30 billion.
