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June 21, 2023XRP trades at $0.5 after gaining $0.007 (1.2%).
Ripple made an initial breakout above its 10 day Simple Moving Average at $0.496, a potential indicator of a newly emerging bullish phase. Fibonacci-focused traders would be interested to note that Ripple is oscillating around the key Fibonacci resistance level of $0.495. Ripple's lower Bollinger Band® is at $0.467, indicating that the market is oversold and fertile for new buyers. In contrast, XRP price action is currently oscillating around the $0.5 resistance level with prices moving above and below several times during the session.
Overall, looking at the technical analysis landscape, it seems XRP might continue pointing upwards in the short term.
Other markets are also showing gains as Bitcoin Cash is up 22.62%. Bitcoin added 5.65% to its value, now trading at $29,881. FTX Token is up 9.54% to $1.36.
This year has been a bright one for Ripple after trading as low as $0.311 and going on to appreciate by 45% year to date. Ripple has a market cap of 25.97 billion with an average daily volume of 1.29 billion.
