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Trading Signals

XRP down $0.006, closing at $0.457, for its 7th straight negative day

04 May 2023

XRPUSD

Ripple drops from $0.463 to $0.457, losing $0.006 (1.33%) today.

Despite being in the red so far in the current trading session, Ripple peaked above its 5 day Simple Moving Average around $0.469 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $0.432, a low enough level to, generally, suggest that Ripple is trading below its fair value. XRP could begin to recover as it approaches significant support, now 1 cents away from $0.45. Dipping below could be an indication that further losses are ahead.

Technical analysis shows that Ripple (currently on a downtrend) might reverse course and start going up in the short term.

In the meantime, negative performances are also seen in other markets, EOS is trading around $1 (down $0.034). Bitcoin Cash descends 2.27% to trade around $117.48.

Positive performances can be seen by looking at other markets as FTX Token soars 9.54% to trade around $1.36.

XRP has managed to gain 33.49% so far this year despite trading at lows around $0.307 previously. XRP is currently trading with a market cap of 23.67 billion with an average daily volume of 1.12 billion.

Market Summary

Latest Crypto News

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ETH set for weak finish today; down 1.59% to $1,875 with 4 hours before close

Ether cryptocurrency trades up $15.34, approximately 0.8% higher going into tomorrow

Binance Coin cryptocurrency trades up $1, approximately 0.32% higher going into tomorrow

LTC cryptocurrency trades up $0.62, approximately 0.74% higher going into tomorrow

Bitcoin Cash down $3.19 reaching $113, for its 4th straight negative day

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