Struggling to find upward momentum, XRP has shed $0.002 to currently trade at $0.349 as it ranges between $0.349 and $0.352 so far today.
Ripple made an initial break below its 21 day Simple Moving Average at $0.348, a possible indication of a forthcoming negative trend. Ripple's upper Bollinger Band® is at $0.364 which indicates a further downward move may follow. On the other hand, note that XRP could begin to recover as it approaches significant support, now 1 cents away from $0.344. 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, FTX Token closed at $1.21 (down 2.64%). Cardano descends 2.33% to trade around $0.315. Dogecoin withdraws 1.35% to trade around $0.077.
XRP is now trading 29.25% below its 3-month high of $0.874. XRP is currently trading with a market cap of 17.69 billion with an average daily volume of 5.44 million.