Is it the end of Ripple's rally? After three days of gains, it is down by 3.05% today

Ripple is sharply lower after losing $0.014, declining as low as $0.451.

Ripple made an initial break below its 10 day Simple Moving Average at $0.456, a possible indication of a forthcoming negative trend. Ripple is currently flirting with an active Fibonacci support level around $0.449. Ripple's upper Bollinger Band® is at $0.478 which indicates a further downward move may follow.

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, Litecoin is trading around $85.88 (down $5.77). Bitcoin is trading around $26,300 (down $919.15).

Other assets are showing positive performances as FTX Token is up 9.54% to $1.36.

XRP is now trading 14.34% below the significant high of $0.543 it set around a month ago. XRP has a market cap of 23.38 billion with an average daily volume of 868.19 million.