XRP is down $0.003 (0.67%), trading around $0.462

After closing at $0.465 today, Ripple opened today at $0.465, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, Ripple retains a distinct $0.46 to $0.465 daily range.

Despite being in the red so far in the current trading session, Ripple peaked above its 3 day Simple Moving Average around $0.464 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $0.432, a low enough level to, generally, suggest that Ripple is trading below its fair value. XRP could begin to recover as it approaches significant support, now 1 cents away from $0.454. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems Ripple —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, UNICORN Token USD draws back 2.98% to trade around $6.43. After ending today's session at $328.04, Binance Coin lost $4.61 and is trading around $323.43.

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

XRP has gained 35.35% since its lowest print of $0.307 earlier this year. Ripple has a market cap of 23.89 billion with an average daily volume of 1.13 billion.