Ripple trades at $0.398, after ending today at $0.4.
Ripple made an initial break below its 200 day Simple Moving Average at $0.396, a possible indication of a forthcoming negative trend. Ripple's upper Bollinger Band® is at $0.416, suggesting that a downward move may follow. In contrast, XRP is approaching key support, around 1 cents away from $0.386. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
According to technical indicators, XRP is positioned for a downward move in the short term.
While XRP is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. UNICORN Token USD draws back 2.98% to trade around $6.43. Bitcoin Cash moves up 0.94% to trade around $146.42.
Over the past 10 months, Ripple has retreated 53.87% from a noteworthy peak of $0.863. Ripple is currently trading with a market cap of 20.20 billion with an average daily volume of 500.93 million.