XRP continues a four day positive streak and is up $0.002 to $0.525

XRP goes up to $0.525 after dipping down to $0.519 earlier.

Although up today, early price action saw Ripple dropping below its 3 day Simple Moving Average at $0.51 — an early indicator that a new downward trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.54, thereby suggesting that Ripple is becoming overvalued. XRP is 2 cents away from testing key resistance at $0.542. Peaking above this level could inspire market bulls and open the path to further gains.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest XRP is set for a reversal in the coming days.

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. Cardano is up 4.53%. NEAR Protocol is up 5.6%.

Ripple has managed to gain 55.49% so far this year despite trading at lows around $0.307 previously. Ripple has a market cap of 27.16 billion with an average daily volume of 1.63 billion.