XRP weakened earlier in the day, before moving away from its $0.411 low and recovering back to $0.413.
Ripple made an initial break below its 3 day Simple Moving Average at $0.411, a possible indication of a forthcoming negative trend. XRP's upper Bollinger Band® is at $0.432 which indicates a further downward move may follow. Despite this, Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.4. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for XRP.
In the meantime, negative performances are also seen in other markets, Cosmos USD closed at $13.28 (down 2.55%).
Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is currently trading at $1.36. UNICORN Token USD is up 10.46% to $0.
XRP has gained 18.61% since its lowest print of $0.307 earlier this year. Ripple has a market cap of 20.97 billion with an average daily volume of 6.64 million.