| 
June 14, 2023Ripple drops from $0.519 to $0.477, losing $0.042 (8.14%) today.
Ripple made an initial break below its 50 day Simple Moving Average at $0.477, a possible indication of a forthcoming negative trend. On the other hand, note that Ripple's lower Bollinger Band® is at $0.477, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
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, after ending today's session at $0.675, EOS lost $0.046 and is trading around $0.629. Litecoin closed at $72.76 (down 6.06%).
Positive performances can be seen by looking at other markets as FTX Token soars 9.54% to trade around $1.36.
The past 3 months have been positive for Ripple as it added 37.96% compared to its 3-month low of $0.307. XRP has a market cap of 24.80 billion with an average daily volume of 1.26 billion.
