| 
April 22, 2023
XRP posts light gains on a low-volatility day, ranging between $0.447 – $0.455 and is now at $0.455.
Ripple made an initial breakout above its 50 day Simple Moving Average at $0.454, a potential indicator of a newly emerging bullish phase. XRP formed a session range of $0.447 to $0.455 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $0.453. Ripple's lower Bollinger Band® is at $0.451, indicating that the market is oversold and fertile for new buyers. Despite this, XRP is 1 cents away from testing key resistance at $0.469. Peaking above this level could inspire market bulls and open the path to further gains.
Ripple continues to move higher with technical analysis indicating the trend will continue in the short term.
Other markets are also showing gains as FTX Token soars 9.54% to trade around $1.36. TRON goes up 1.61% to trade around $0.066. Binance Coin is up 1.93%.
XRP has managed to gain 31.55% so far this year despite trading at lows around $0.307 previously. Ripple is currently trading with a market cap of 23.57 billion with an average daily volume of 1.19 billion.
