Marginally higher but lacking a clear-cut direction, Ripple is trading at $0.383 after ranging between $0.369 and $0.396 today.
Although Ripple is appreciating today after rising as high as $0.396, price action is now slowing and consolidating around 1 cents below the $0.398 resistance level. Despite posting gains so far today, XRP slid below its 5 day Simple Moving Average at $0.363 in earlier trade — an early indicator that a negative trend could be emerging.
Overall, looking at the technical analysis landscape, it seems XRP is likely to reverse course and start pointing down in the short term.
XRP shows positive signs, other assets are also on par: FTX Token added 30.93% to its value, now trading at $1.95. Algorand USD gained 5.69% and is currently trading at $0.276. Litecoin gained 3.41% and is now trading at $58.53.
Since its 52-week high of $1.19, Ripple has lost 68.39% over the last twelve months. Ripple is currently trading with a market cap of 19.25 billion with an average daily volume of 8.92 million.