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March 17, 2023
After closing the previous trading day at $0.366, XRP is up to $0.377, which makes for a move of 3.04%/$0.011 today.
Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.388, thereby suggesting that Ripple is becoming overvalued.
Examining the technical analysis landscape, Ripple is likely to reverse course and start pointing downward in the short term.
Ripple shows positive signs, other assets are also on par: Bitcoin leaps up 6.33% to trade around $26,600. FTX Token jumps 9.54% to trade around $1.36. Having closed the previous session at $79, Litecoin is up 5.51% today to currently trade at around $83.36.
XRP has fallen back around 57.64% from the significant high of $0.863 set 11 months ago. XRP is currently trading with a market cap of 19.20 billion with an average daily volume of 1 billion.
