XRP cryptocurrency trades up $0.02, approximately 3.86% higher this afternoon

Ripple got off to a strong start by gaining $0.02 (+3.86%), only to run out of steam later in the session around $0.544. Currently, XRP is trading around the $0.533 level.

Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Fibonacci-minded traders witnessed a key Fib resistance level of $0.543 holding firm – an indicator of highly concentrated supply around this level. According to asset volatility analysis, XRP's upper Bollinger Band® is at $0.542, this is a slight indication of a slowdown. Ripple's notable support and resistance levels: Ripple broke through the $0.518 resistance, climbing 1 cents above it.

Overall, while XRP has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Ripple shows positive signs, other assets are also on par: FTX Token gained 9.54% and is now trading at $1.36. Ethereum is up 5.3%. Binance Coin is up 2.74%.

Ripple has gained 51.56% since its lowest print of $0.307 earlier this year. Ripple is currently trading with a market cap of 27.58 billion with an average daily volume of 1.56 billion.