Biggest Movers: XRP, DOGE Bear Run Continues, Sending Prices to Multi-Week Lows
XRP was one of Thursday’s
notable movers, as the token dropped to a multi-week low in today’s session. The decline comes
as the global market cap fell by as much as
2% over the course of the day. Dogecoin
also declined, falling for a third consecutive session.
XRP, formerly ripple, remained in the
red during today’s session, as the price fell to a multi-week low.
Following a high of
$0.6971 the day prior,
XRP/USD slipped to an intraday low of
$0.6589 earlier in the day. This is the weakest point that
XRP has hit since
July 13, when the token was trading below
$0.4700.
That day also saw
XRP hit its highest point since
December 2021, after it was ruled by a U.S. judge not necessarily to be a security. Since then, sentiment has been largely bearish, with the latest sell-off coming as the relative strength index (RSI) broke out of a floor at
49.00.
At the time of writing, the index is tracking at
48.60, with the next visible point of support at
45.00.
