Losing streak continues: Ripple down $0.011 to $0.363 adding to its six days of losses

Ripple is sharply lower after losing $0.011, declining as low as $0.363.

Trend-focused traders would be interested to note that Ripple made an initial break below its 10 day Simple Moving Average at $0.372, a possible indication of a forthcoming negative trend. Having stamped out a session range of $0.358 to $0.378, Fibonacci-inclined Ripple traders were highly concentrated around active Fibonacci support at $0.368. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $0.356, a low enough level to, generally, suggest that XRP is trading below its fair value. Chart analysis suggests Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.35. Dipping below could be an indication that further losses are ahead.

All in all, the technical analysis suggests Ripple has no clear-cut direction.

In the meantime, negative performances are also seen in other markets, Solana is down to $19.42, losing $0.947, after closing at $20.37 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. Binance Coin is up 3.54%.

XRP has fallen back around 56.68% over the past 11 months, from a notable high of $0.863. Ripple has a market cap of 18.48 billion with an average daily volume of 1 billion.