Ripple cryptocurrency trades up $0.012, approximately 2.29% higher this afternoon

XRP trades at $0.523 after gaining $0.012 (2.29%).

Technical analysis shows that Ripple broke through the $0.519 resistance, climbing 2 cents above it. Trend-following investors would be interested to note that XRP made an initial breakout above its 21 day Simple Moving Average at $0.515, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that XRP's upper Bollinger Band® is at $0.532, this is a slight indication of a slowdown.

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

Ripple shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Bitcoin rises 3.21% to trade around $30,400. Chainlink USD is up 6%.

Ripple has gained 50.72% since its lowest print of $0.307 earlier this year. XRP has a market cap of 27 billion with an average daily volume of 1.47 billion.