Ripple drops $0.006 early on and steadies around the $0.39 level.
Ripple made an initial break below its 200 day Simple Moving Average at $0.39, a possible indication of a forthcoming negative trend. 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.
Overall, the technical analysis landscape suggests that on the balance of probability, Ripple is expected to maintain its bearish bias.
Positive performances can be seen by looking at other markets as FTX Token gained 6.44% and is currently trading at $1.38. Having closed the previous session at $5.4, Polkadot is up 3.91% today to currently trade at around $5.61. Having closed the previous session at $1, Tezos USD is up 3.18% today to currently trade at around $1.03.
Since its 52-week high of $1, Ripple has lost 61.02% over the last twelve months. Ripple is currently trading with a market cap of 19.63 billion with an average daily volume of 8.80 million.