XRP drops $0.004 early on and steadies around the $0.46 level.
Ripple's upper Bollinger Band® is at $0.488 which indicates a further downward move may follow. Despite this, although XRP is pointing down today (was as low as $0.458), it's climbing away from the $0.453 support line and is now 1 cents above it.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Ripple to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Ripple is expected to attract significant bearish sentiment in the coming days.
Positive performances can be seen by looking at other markets as Dogecoin gained 13.72% and is currently trading at $0.144. Having closed the previous session at $6.62, Polkadot is up 0.94% today to currently trade at around $6.68. Having closed the previous session at $1,571.3, Ethereum is up 1.14% today to currently trade at around $1,589.
Ripple reached a significant high of $1.29 around 11 months ago but has lost 63.94% since then. XRP is currently trading with a market cap of 23 billion with an average daily volume of 5.73 million.