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May 30, 2023
Tentatively higher from an earlier low of $0.491, Ripple is up to $0.521 today, adding $0.026, or 5.18%, to today's closing price of $0.496.
Ripple broke through the $0.5 resistance and climbed above it 2 cents; next resistance level is at $0.517. Investors are seeking long positions as XRP price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Ripple formed a session range of $0.491 to $0.523 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $0.5. XRP has crossed the upper Bollinger Band® at $0.507, a potential sign that further gains are to follow. Despite this, first developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In Ripple's case, the RSI has fallen below 30, indicating the asset is oversold.
Overall, looking at the technical analysis landscape, it seems Ripple might continue pointing upwards in the short term.
XRP shows positive signs, other assets are also on par: FTX Token jumps 9.54% to trade around $1.36. Solana ascends 3.44% to trade around $21.29.
At the same time, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43.
Ripple now trading 28.21% above its 3-month low of $0.307. Ripple is currently trading with a market cap of 27.10 billion with an average daily volume of 862.68 million.
