XRP cryptocurrency trades up $0.012, approximately 2.46% higher this afternoon

XRP posts light gains on a low-volatility day, ranging between $0.467 – $0.482 and is now at $0.481.

Ripple broke through the $0.478 resistance, climbing 2 cents above it. XRP made an initial breakout above its 10 day Simple Moving Average at $0.48, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $0.471 currently serving as resistance. If broken, the next Fib hurdle is expected to be $0.484.

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

Ripple shows positive signs, other assets are also on par: Bitcoin added 5.51% to its value, now trading at $29,839. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Ethereum is up 4.83%.

XRP has managed to gain 39.22% so far this year despite trading at lows around $0.307 previously. Ripple is currently trading with a market cap of 24.87 billion with an average daily volume of 1 billion.