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Trading Signals

Bearish XRP currently $0.002 lower after trading as low as $0.459

24 April 2023

XRPUSD

Trading lower, XRP is currently down $0.002 as it ranges between $0.459 and $0.483 so far today.

Ripple made an initial break below its 50 day Simple Moving Average at $0.458, a possible indication of a forthcoming negative trend. On the other hand, note that Ripple's lower Bollinger Band® is at $0.45, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Although XRP is down today and was as low as $0.459, it seems to be recovering slightly and climbing away from the $0.454 support line and is now 1 cents above it.

Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for XRP.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD slumps 2.98% to trade around $6.43.

Other assets are showing positive performances as FTX Token is up 9.54% to $1.36. Litecoin is up 1.22%.

XRP has managed to gain 35.78% so far this year despite trading at lows around $0.307 previously. XRP is currently trading with a market cap of 23.97 billion with an average daily volume of 1.11 billion.

Market Summary

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XRP is down 0.31%, trading at $0.458

Solana set for weak finish today; down 2.45% to $21.74 with a hour before close

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