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February 24, 2023
XRP posts light gains on a low-volatility day, ranging between $0.388 – $0.39 and is now at $0.39.
Despite posting gains so far today, Ripple slid below its 50 day Simple Moving Average at $0.389 in earlier trade — an early indicator that a negative trend could be emerging. XRP's upper Bollinger Band® is at $0.406, this is a slight indication of a slowdown. Ripple is 1 cents away from testing key resistance at $0.395. Peaking above this level could inspire market bulls and open the path to further gains.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates XRP is set for a reversal in the coming days.
Ripple shows positive signs, other assets are also on par: FTX Token is up 9.54% to $1.36. Having closed the previous session at $1.18, EOS is up 1.06% today to currently trade at around $1.19. UNICORN Token USD increases 1.62% to trade around $6.47.
Over the past 10 months, XRP has retreated 55% from a noteworthy peak of $0.863. Ripple has a market cap of 19.87 billion with an average daily volume of 607.52 million.
