Ripple sheds $0.002 to trade around $0.503

Slightly weaker but mostly flat: Ripple is currently trading at $0.503 as it maintains an active range between $0.503 and $0.509.

Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.503. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Ripple peaked above its 5 day Simple Moving Average around $0.507 — typically an early indicator of a new bullish trend beginning to emerge.

Overall, looking at the technical analysis landscape, it seems XRP might start pointing upward in the short term.

Positive performances can be seen by looking at other markets as FTX Token surges 9.54% to trade around $1.36. UNICORN Token USD is up 1.62%.

XRP now trading 46.72% above its 3-month low of $0.307. Ripple has a market cap of 26 billion with an average daily volume of 1.96 billion.