Ripple remains constrained within a $0.389 to $0.397 range and is currently trading around the $0.392 level.
Chart analysis suggests Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.385. Dipping below could be an indication that further losses are ahead. Trend analysis indicates that despite being in the red so far in the current trading session, Ripple peaked above its 200 day Simple Moving Average around $0.397 — typically an early indicator of a new bullish trend beginning to emerge. Analysis based on the asset volatility indicates that XRP's upper Bollinger Band® is at $0.41 which indicates a further downward move may follow.
Notwithstanding Ripple's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD is trading around $6.43 (down $0.197).
Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Chainlink USD is up 5%.
Ripple has fallen back around 54.15% over the past 10 months, from a notable high of $0.863. Ripple is currently trading with a market cap of 19.96 billion with an average daily volume of 563.45 million.