Tentatively higher from an earlier low of $0.396, XRP is up to $0.404 today, adding $0.007, or 1.81%, to today's closing price of $0.397.
Ripple made an initial breakout above its 3 day Simple Moving Average at $0.397, a potential indicator of a newly emerging bullish phase. Fibonacci-focused traders would be interested to note that Ripple is oscillating around the key Fibonacci resistance level of $0.4. On the other hand, note that although XRP is appreciating today after rising as high as $0.408, price action is now slowing and consolidating around 1 cents below the $0.409 resistance level. XRP's upper Bollinger Band® is at $0.42, this is a slight indication of a slowdown.
Overall, looking at the technical analysis landscape, it seems Ripple likely to continue pointing upward in the short term.
Other markets are also showing gains as Dogecoin explodes 17.08% to trade around $0.104. TRON increases 2.37% to trade around $0.054.
Meanwhile, FTX Token retreats 3.62% to trade around $1.32.
Since its 52-week high of $1.04, Ripple has lost 62% over the last twelve months. Ripple is currently trading with a market cap of 20.31 billion with an average daily volume of 10.52 million.