Ripple cryptocurrency trades up $0.017, approximately 3.36% higher going into tomorrow

XRP trades at $0.537 after gaining $0.017 (3.36%).

Although up today, early price action saw Ripple dropping below its 5 day Simple Moving Average at $0.519 — an early indicator that a new downward trend could be emerging. The RSI is a momentum oscillator that measures changing price movements on a scale of 0-100. In Ripple's case, the index has risen above 70, signalling that the asset is overbought. Ripple's upper Bollinger Band® is at $0.542, this is a slight indication of a slowdown. On the other hand, note that Ripple broke through the $0.527 resistance, climbing 1 cents above it.

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

Other markets are also showing gains as FTX Token is up 9.54%. Having closed the previous session at $21.21, Solana is up 4.91% today to currently trade at around $22.25.

At the same time, UNICORN Token USD closed at $6.43 (down 2.98%).

XRP now trading 38.59% above its 3-month low of $0.307. Ripple has a market cap of 27.91 billion with an average daily volume of 968.22 million.