After closing at $0.46 today, XRP opened today at $0.46, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, XRP retains a distinct $0.457 to $0.461 daily range.
Ripple's upper Bollinger Band® is at $0.485 which indicates a further downward move may follow. On the other hand, note that Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.453. Dipping below could be an indication that further losses are ahead.
Looking forward, Ripple is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.
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. Having closed the previous session at $21.96, Solana is up 3.18% today to currently trade at around $22.66.
This year has been a bright one for XRP after trading as low as $0.307 and going on to appreciate by 35.29% year to date. XRP has a market cap of 23.75 billion with an average daily volume of 1 billion.