XRP cryptocurrency trades up $0.006, approximately 1.49% higher this afternoon

After ending the previous trading day at $0.389, Ripple went up to $0.396 only to drop back; still positive overall today, now trading at $0.395.

Trend and momentum analysis indicates that Ripple made an initial breakout above its 50 day Simple Moving Average at $0.392, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $0.39 currently serving as resistance According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.4, thereby suggesting that Ripple is becoming overvalued. A study of XRP's historical price actions shows XRP could be slowing down soon; it is getting close to the resistance line and is now at $0.4, only 1 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Notwithstanding XRP's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Ripple shows positive signs, other assets are also on par: FTX Token is up 9.54%. Having closed the previous session at $1.12, EOS is up 3.92% today to currently trade at around $1.16.

Meanwhile, after ending today's session at $10.98, Cosmos USD lost $0.341 and is trading around $10.64.

Ripple is now trading 54.96% below the significant high of $0.863 it set around 11 months ago. Ripple has a market cap of 20.10 billion with an average daily volume of 859.48 million.