Ripple down $0.009 reaching $0.467, for its 4th straight negative day

XRP is grinding lower from $0.476 to $0.467, shedding $0.009 (1.96%) today.

Ripple bounced after reaching the $0.461 support zone, climbing 1 cents above it. Despite being in the red so far in the current trading session, Ripple peaked above its 3 day Simple Moving Average around $0.479 — typically an early indicator of a new bullish trend beginning to emerge. XRP's lower Bollinger Band® is at $0.47, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. In contrast, price action remains constrained around the key Fibonacci level of $0.471 currently serving as support. If price action breaks below, the next Fib hurdle is $0.453.

Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems XRP is set to appreciate despite today's setback.

In the meantime, negative performances are also seen in other markets, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54% to $1.36. Binance Coin gained 2.77% and is currently trading at $327.23.

This year has been a bright one for XRP after trading as low as $0.307 and going on to appreciate by 38.77% year to date. Ripple has a market cap of 24.18 billion with an average daily volume of 1.22 billion.