Trading lower, Ripple is currently down $0.002 as it ranges between $0.405 and $0.412 so far today.
The Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Ripple could begin to recover as it approaches significant support, now 2 cents away from $0.391. Dipping below could be an indication that further losses are ahead. Despite this, a Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal.
Despite suffering losses in today's session, technical analysis is indicating that Ripple will undergo a significant bounce in the immediate term.
Other assets are showing positive performances as Litecoin ascends 5.6% to trade around $78.19. Binance Coin gained 4.37% and is currently trading at $313.72. Dogecoin ascends 3% to trade around $0.092.
XRP has shed $0.648 points and is languishing 61.31% lower over the past year, leaving its yearly highs around $1.05 in the rear-view mirror. XRP has a market cap of 20.45 billion with an average daily volume of 10 million.