Ripple cryptocurrency trades up $0.011, approximately 2.28% higher going into tomorrow

Ripple trades at $0.475 after gaining $0.011 (2.28%).

Ripple made an initial breakout above its 5 day Simple Moving Average at $0.476, a potential indicator of a newly emerging bullish phase. Ripple formed a session range of $0.462 to $0.477 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $0.473. XRP's lower Bollinger Band® is at $0.459, indicating that the market is oversold and fertile for new buyers. Despite this, Ripple is 1 cents away from testing key resistance at $0.48. Peaking above this level could inspire market bulls and open the path to further gains.

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

Ripple shows positive signs, other assets are also on par: having closed the previous session at $15.98, Solana is up 12.7% today to currently trade at around $18. Bitcoin Cash is up 8.83%. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

Ripple reached a significant high of $0.543 around 3 months ago but has lost 14.37% since then. XRP has a market cap of 24.84 billion with an average daily volume of 1.16 billion.