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May 28, 2023Ripple trades at $0.477 after gaining $0.005 (1.15%).
Trend and momentum analysis indicates that investors are seeking long positions as Ripple price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Ripple's upper Bollinger Band® is at $0.488, this is a slight indication of a slowdown. A study of XRP's chart reveals various key levels to watch: XRP price action is currently oscillating around the $0.477 resistance level with prices moving above and below several times during the session.
Notwithstanding XRP's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as FTX Token added 9.54% to its value, now trading at $1.36. Having closed the previous session at $26,861, Bitcoin is up 2.75% today to currently trade at around $27,600. Cardano gained 3.18% and is currently trading at $0.379.
Having set a significant high of $0.543 2 months ago, Ripple is trading 13.07% lower. XRP has a market cap of 24.81 billion with an average daily volume of 874 million.
