XRP gets off to a weak start; down 0.24% this morning to $0.377

Ripple remains constrained within a $0.377 to $0.378 range and is currently trading around the $0.377 level.

Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.375. Dipping below could be an indication that further losses are ahead. Bollinger Bands® shows an indication of recovery: the lower band is at $0.368, a low enough level to, generally, suggest that Ripple is trading below its fair value.

Technical analysis shows that XRP (currently on a downtrend) might reverse course and start going up in the short term.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD withdraws 2.98% to trade around $6.43.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.

Approximately 10 months ago, XRP reached a significant high of $0.863 but has struggled to hold onto its gains and declined 56.22% since then. Ripple is currently trading with a market cap of 19.21 billion with an average daily volume of 693.38 million.