Ripple rallies $0.011 (3%) deep into the session, trading at $0.392.
Ripple made an initial breakout above its 200 day Simple Moving Average at $0.397, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of $0.374 to $0.4, Fibonacci-inclined Ripple traders were highly concentrated around active Fibonacci resistance at $0.385. Despite this, Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.4, thereby suggesting that XRP is becoming overvalued.
According to technical analysis, it looks as if XRP likely to continue pointing upward in the short term.
XRP shows positive signs, other assets are also on par: FTX Token rallies 9.54% to trade around $1.36.
At the same time, after ending today's session at $20.28, Solana lost $1.61 and is trading around $18.67. Algorand USD slips 6.05% to trade around $0.204.
Having set a significant high of $0.863 11 months ago, Ripple is trading 55.88% lower. Ripple has a market cap of 19.99 billion with an average daily volume of 894 million.