Giovanni Russo On Monday, the value of Xrp dropped to its lowest point in six weeks. All over the world, cryptocurrency values decreased and the total crypto market value lost about 3%. This happened just a few days before the U.S. government is set to release an inflation report. Additionally, Solana’s rate also went down, reaching a new low-point.
XRP Drops By 5%, Breaks Out of $0
XRP, sometimes called Ripple, dropped by 5% on Monday which made its market cap go down 3%.
XRP/USD went from a high of $0.4606 to the lowest it’s been since March 25 at $0.4333. This caused XRP/USD to break out of $0.4360 on the daily chart.
Looking at the chart, there was a decrease in value because a number (known as the “Relative Strength Index”) changed from 39.00 to 36.04 (and XRP decreased from $0.4365). This means that, overall, XRP has gone down by 5.11% since the writing of this passage.
Will SOL Bounce Back After Reaching a Low Point?
The price of Solana (SOL) has been dropping for three days in a row and is now at its lowest level since April 26. SOL went from a high of $22.74 on Sunday to $21.01 earlier today, which is right near the long-term support point of $21.00. Despite this drop, SOL was able to bounce back up with the RSI finding a floor around 44.00.
Right now, the stock market is trading at 44.57, but bulls might be able to get it up to 49.00. If enough people invest, the price of SOL could go over $22.00! Sign up for our email list here and get weekly updates about price changes in your inbox. What do you think? How high can SOL go this week? Tell us in the comments below!
