Slightly weaker but mostly flat: XRP is currently trading at $0.466 as it maintains an active range between $0.462 and $0.479.
Ripple made an initial break below its 50 day Simple Moving Average at $0.469, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $0.464 currently serving as support. If price action breaks below, the next Fib hurdle is $0.45. Ripple's upper Bollinger Band® is at $0.494 which indicates a further downward move may follow. Despite this, XRP could begin to recover as it approaches significant support, now 1 cents away from $0.463. Dipping below could be an indication that further losses are ahead.
In the short term, XRP is expected to maintain its recent downtrend and continue spiralling lower.
In the meantime, negative performances are also seen in other markets, Solana is trading around $29.57 (down $3.13).
Positive performances can be seen by looking at other markets as Chainlink USD leaps up 9.54% to trade around $8.88. MaticNetwork USD added 10.03% to its value, now trading at $1.25.
XRP is now trading 63.43% below the significant high of $1.29 it set around 11 months ago. XRP is currently trading with a market cap of 23.40 billion with an average daily volume of 5.87 million.