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June 28, 2023
Ripple slides down from $0.484 to $0.465 today, losing $0.019 (3.84%).
Ripple made an initial break below its 50 day Simple Moving Average at $0.482, a possible indication of a forthcoming negative trend. On the other hand, note that Bollinger Bands® shows an indication of recovery: the lower band is at $0.454, a low enough level to, generally, suggest that XRP is trading below its fair value. Ripple could begin to recover as it approaches significant support, now 1 cents away from $0.451. Dipping below could be an indication that further losses are ahead.
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 Ripple.
In the meantime, negative performances are also seen in other markets, after ending today's session at $0.72, EOS lost $0.051 and is trading around $0.669. Litecoin drops 5.5% to trade around $83.1.
Other assets are showing positive performances as FTX Token gained 9.54% and is now trading at $1.36.
Ripple has shed 14.28% over the past three months. XRP has a market cap of 24.31 billion with an average daily volume of 1.16 billion.
