Ripple cryptocurrency trades up $0.011, approximately 2.42% higher going into tomorrow

Marginally higher but lacking a clear-cut direction, Ripple is trading at $0.485 after ranging between $0.471 and $0.494 today.

With regards to technical trend indicators, chart analysis show that Ripple made an initial breakout above its 50 day Simple Moving Average at $0.486, a potential indicator of a newly emerging bullish phase. XRP failed to break through the $0.495 Fibonacci resistance level. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.5, thereby suggesting that Ripple is becoming overvalued. Following today's trading session, chart analysis suggests after reaching the known resistance zone beginning at $0.495, XRP price action retreated approximately 1 cents.

Notwithstanding XRP's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

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. Litecoin is up 4.68% to $112.4. Bitcoin Cash gained 2.6% and is currently trading at $299.11.

The past 6 months have been positive for Ripple as it appreciated 39.95%, having traded as low as $0.311. XRP is currently trading with a market cap of 25.32 billion with an average daily volume of 1.10 billion.