Ripple set for weak finish today; down 6.06% to $0.505 with 3 hours before close

As the current session draws to a close, Ripple remains in the $0.484 – $0.538 range after dropping 6.06%.

Ripple pushed below the $0.525 support level and extended 2 cents beyond it. Ripple made an initial break below its 21 day Simple Moving Average at $0.5, a possible indication of a forthcoming negative trend.

Overall, looking at the technical analysis landscape, it seems XRP is likely to start pointing downward in the short term.

In the meantime, negative performances are also seen in other markets, Litecoin is down $12.5 from the beginning of the session and now trades around $76.77. Dogecoin is down to $0.062, losing $0.008, after closing at $0.07 in the preceding trading session. After ending today's session at $13.76, Avalanche lost $2.16 and is trading around $11.59.

XRP now trading 44.46% above its 3-month low of $0.307. XRP has a market cap of 26.26 billion with an average daily volume of 1 billion.