Ripple is down 2.92%, trading at $0.502

XRP slides down from $0.517 to $0.502 today, losing $0.015 (2.92%).

Ripple made an initial break below its 10 day Simple Moving Average at $0.507, a possible indication of a forthcoming negative trend. XRP broke through the $0.511 support line and dropped 1 cents below it.

Overall, the technical analysis landscape suggests that on the balance of probability, XRP is expected to maintain its bearish bias.

In the meantime, negative performances are also seen in other markets, TRON is down to $0.064, losing $0.002, after closing at $0.066 in the preceding trading session. Litecoin slumps 3.23% to trade around $91.37.

Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is currently trading at $1.36.

Ripple has managed to gain 52.03% so far this year despite trading at lows around $0.307 previously. XRP is currently trading with a market cap of 25.96 billion with an average daily volume of 1.78 billion.