Ripple sheds $0.013 to trade around $0.455

XRP slides down from $0.468 to $0.455 today, losing $0.013 (2.68%).

Despite being in the red so far in the current trading session, Ripple peaked above its 10 day Simple Moving Average around $0.467 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $0.438, a low enough level to, generally, suggest that Ripple is trading below its fair value. Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.461. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems XRP —which is currently on a downtrend— might reverse course and start pointing upward in the short term.

In the meantime, negative performances are also seen in other markets, after ending today's session at $88.83, Litecoin lost $6.04 and is trading around $82.8. Ethereum dips 5.65% to trade around $1,884.79.

Other assets are showing positive performances as FTX Token soars 9.54% to trade around $1.36.

Ripple has gained 37.84% since its lowest print of $0.307 earlier this year. XRP is currently trading with a market cap of 23.61 billion with an average daily volume of 1 billion.