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June 11, 2023
Currently trading at $0.525, Ripple remains range-bound between $0.504 and $0.528.
Technical analysis trend indicators suggest that Ripple made an initial breakout above its 10 day Simple Moving Average at $0.521, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Ripple's upper Bollinger Band® is at $0.556, this is a slight indication of a slowdown. Following today's trading session, chart analysis suggests although Ripple is appreciating today after rising as high as $0.528, price action is now slowing and consolidating around 1 cents below the $0.534 resistance level.
All in all, the technical analysis suggests XRP has no clear-cut direction.
Other markets are also showing gains as FTX Token gained 9.54% and is now trading at $1.36. Having closed the previous session at $0.612, MaticNetwork USD is up 6.06% today to currently trade at around $0.65. Having closed the previous session at $0.07, TRON is up 0.94% today to currently trade at around $0.07.
The past 3 months have been positive for Ripple as it added 38.11% compared to its 3-month low of $0.307. XRP is currently trading with a market cap of 27.29 billion with an average daily volume of 1.16 billion.
