XRP cryptocurrency trades up $0.004, approximately 0.86% higher this afternoon

After closing the previous trading day at $0.505, XRP went up to $0.513 only to drop back; still positive overall today, now trading at $0.509.

Ripple made an initial breakout above its 10 day Simple Moving Average at $0.508, a potential indicator of a newly emerging bullish phase. In contrast, Ripple could be slowing down soon as it approaches resistance at $0.514. Of course, crossing it might suggest further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Ripple might continue pointing upwards in the short term.

Ripple shows positive signs, other assets are also on par: FTX Token added 9.54% to its value, now trading at $1.36. Ethereum improves 3.72% to trade around $1,990.48. Dogecoin improves 3.65% to trade around $0.087.

Ripple has gained 48.57% since its lowest print of $0.307 earlier this year. Ripple is currently trading with a market cap of 26.36 billion with an average daily volume of 1.62 billion.