Ripple set for weak finish today; down 0.65% to $0.521 with 4 hours before close

Ripple is grinding lower from $0.524 to $0.521, shedding $0.003 (0.65%) today.

Ripple made an initial break below its 5 day Simple Moving Average at $0.519, a possible indication of a forthcoming negative trend. XRP's upper Bollinger Band® is at $0.536 which indicates a further downward move may follow. Despite this, Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.512. Dipping below could be an indication that further losses are ahead.

In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Ripple.

In the meantime, negative performances are also seen in other markets, TRON is down $0.002 from the beginning of the session and now trades around $0.082.

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. Litecoin is up 1.38%.

XRP now trading 43.39% above its 3-month low of $0.307. XRP is currently trading with a market cap of 27 billion with an average daily volume of 949.95 million.