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April 28, 2023
After closing at $0.467 today, Ripple began today at $0.467 with significant bullish sentiment driving Ripple's price action higher. So far today, price action has drawn out a distinct $0.465 to $0.481 range.
Ripple made an initial breakout above its 10 day Simple Moving Average at $0.473, a potential indicator of a newly emerging bullish phase. Fibonacci-focused traders would be interested to note that XRP is oscillating around the key Fibonacci resistance level of $0.471. XRP's lower Bollinger Band® is at $0.438, indicating that the market is oversold and fertile for new buyers. Despite this, Ripple broke through the $0.472 resistance and climbed 1 cents above it.
Overall, looking at the technical analysis landscape, it seems XRP might continue pointing upwards in the short term.
Ripple shows positive signs, other assets are also on par: FTX Token leaps up 9.54% to trade around $1.36.
At the same time, Binance Coin closed at $321.26 (down 2.86%). After ending today's session at $0.41, Cardano lost $0.01 and is trading around $0.4.
This year has been a bright one for Ripple after trading as low as $0.307 and going on to appreciate by 37.94% year to date. Ripple is currently trading with a market cap of 24.22 billion with an average daily volume of 1.13 billion.
