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May 26, 2023
XRP has rallied $0.01, or 2.19%, to now stand at $0.464.
Trend and momentum analysis indicates that Ripple made an initial breakout above its 10 day Simple Moving Average at $0.458, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.478, thereby suggesting that Ripple is becoming overvalued. Technical chart analysis shows XRP broke through the $0.456 resistance, climbing 1 cents above it.
With market volatility ebbing, the current technical outlook indicates XRP will remain range-bound for the immediate future.
Ripple shows positive signs, other assets are also on par: FTX Token soars 9.54% to trade around $1.36. Having closed the previous session at $26,482, Bitcoin is up 1.22% today to currently trade at around $26,800.
Meanwhile, UNICORN Token USD closed at $6.43 (down 2.98%).
A month ago XRP reached a significant high of $0.543 but has consequently lost 16.4% since then. XRP is currently trading with a market cap of 24 billion with an average daily volume of 865.89 million.
