Losing streak continues, Ripple lost $0.003 to $0.458 adding to its four consecutive days of drops

Trading lower, XRP is currently down $0.003 as it ranges between $0.452 and $0.462 so far today.

Ripple made an initial break below its 50 day Simple Moving Average at $0.458, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $0.453 currently serving as support. If price action breaks below, the next Fib hurdle is $0.426. On the other hand, note that Bollinger Bands® shows an indication of recovery: the lower band is at $0.445, a low enough level to, generally, suggest that Ripple is trading below its fair value. Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.447. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for XRP.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. After ending today's session at $0.989, MaticNetwork USD lost $0.023 and is trading around $0.967.

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.

This year has been a bright one for XRP after trading as low as $0.307 and going on to appreciate by 36.09% year to date. XRP has a market cap of 23.72 billion with an average daily volume of 1 billion.