Ripple slides down from $0.367 to $0.363 today, losing $0.004 (1.06%).
Technical analysis of XRP's past price action reveals multiple support and resistance levels: Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.362. Dipping below could be an indication that further losses are ahead. With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Ripple's lower Bollinger Band® is at $0.361, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, the technical outlook suggests Ripple is likely to remain muted for the immediate future, with no clear-cut direction.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD is trading around $6.43 (down $0.197). Litecoin is trading around $88.24 (down $1.68).
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.
Ripple has fallen back around 57.48% over the past 11 months, from a notable high of $0.863. Ripple has a market cap of 18.50 billion with an average daily volume of 888.62 million.