End of rally? After three days of gains, Ripple is down $0.01 today

XRP is grinding lower from $0.431 to $0.42, shedding $0.01 (2.38%) today.

Ripple made an initial break below its 3 day Simple Moving Average at $0.426, a possible indication of a forthcoming negative trend. Having stamped out a session range of $0.419 to $0.431, Fibonacci-inclined Ripple traders were highly concentrated around active Fibonacci support at $0.426. A crossing of the lower Bollinger Band® at $0.421 suggests further losses may follow for XRP. In contrast, XRP could begin to recover as it approaches significant support, now 1 cents away from $0.422. Dipping below could be an indication that further losses are ahead.

Looking forward, XRP is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other markets, after ending today's session at $0.37, Cardano lost $0.016 and is trading around $0.354. Dogecoin is down to $0.071, losing $0.002, after closing at $0.073 in the preceding trading session.

Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

A month ago Ripple reached a significant high of $0.543 but has consequently lost 20.66% since then. Ripple is currently trading with a market cap of 21.79 billion with an average daily volume of 1 billion.