Ripple recovering almost all the way back to $0.418 today, after dipping down to $0.411.
Ripple made an initial break below its 3 day Simple Moving Average at $0.411, a possible indication of a forthcoming negative trend. XRP's upper Bollinger Band® is at $0.432 which indicates a further downward move may follow. In contrast, Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.4. Dipping below could be an indication that further losses are ahead.
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 Ripple.
In the meantime, negative performances are also seen in other markets, after ending today's session at $13.62, Cosmos USD lost $0.347 and is trading around $13.28.
Other assets are showing positive performances as FTX Token is up 9.54%. UNICORN Token USD added 10.46% to its value, now trading at $0.
XRP has managed to gain 18.61% so far this year despite trading at lows around $0.307 previously. XRP has a market cap of 20.97 billion with an average daily volume of 6.64 million.