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June 19, 2023
Currently trading at $0.494, XRP remains range-bound between $0.484 and $0.497.
Ripple made an initial breakout above its 10 day Simple Moving Average at $0.5, a potential indicator of a newly emerging bullish phase. Ripple formed a session range of $0.484 to $0.497 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $0.492. Ripple's lower Bollinger Band® is at $0.471, indicating that the market is oversold and fertile for new buyers. Despite this, although XRP is appreciating today after rising as high as $0.497, price action is now slowing and consolidating around 1 cents below the $0.503 resistance level.
Overall, looking at the technical analysis landscape, it seems XRP might continue pointing upwards in the short term.
Other markets are also showing gains as FTX Token is up 9.54% to $1.36. Bitcoin is up 1.42%. MaticNetwork USD added 2.34% to its value, now trading at $0.612.
The past 3 months have been positive for XRP as it added 29.15% compared to its 3-month low of $0.311. Ripple has a market cap of 25.67 billion with an average daily volume of 1.34 billion.
