XRP emerged as one of the key performers on Thursday, although the token witnessed a drop to a low not seen in several weeks during today’s session. This slide coincides with a decrease in the worldwide market cap, which fell by up to 2% throughout the day. Dogecoin similarly experienced a decrease, marking its third continuous session of decline.
This represents the lowest mark for XRP since July 13, when the token was priced below $0.4700.
XRP/USD – Daily Chart
As of now, the index stands at 48.60, with the subsequent prominent support level pegged at 45.00.
Dogecoin (DOGE) perpetuated its bearish phase on Thursday, with the meme coin depreciating by up to 5% today.
This decline led DOGE/USD to sink to an intraday nadir of $0.07305, less than a day after it had hit a high of $0.07703.
Following this sell-off, dogecoin has plummeted to its lowest point since July 24, the last time it was traded at a support level of $0.07000.
DOGE/USD – Daily Chart
Like XRP, the dip in Dogecoin on Thursday can be attributed to its price strength falling beneath a base level of 51.00.
Currently, the RSI stands at 50.23, with DOGE being traded at $0.07339, slightly above the day’s lowest point.
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Frequently Asked Questions (FAQs) about Cryptocurrency Decline
What was the market performance of XRP and DOGE on Thursday?
On Thursday, both XRP and DOGE experienced significant declines, hitting several-week lows. XRP dipped to an intraday low of $0.6589, its lowest point since July 13, while DOGE dropped to an intraday low of $0.07305, its lowest since July 24. The global market cap also fell by 2% over the course of the day.
How have XRP and DOGE been performing recently?
Both XRP and DOGE have been in a bearish trend recently. XRP has been largely bearish since it hit its highest point in December 2021. DOGE has also been on a downward trend, falling for three consecutive sessions.
What is the Relative Strength Index (RSI) indicating about XRP and DOGE?
What was the highest point for XRP since December 2021?
The highest point for XRP since December 2021 was reached on July 13. However, the token has been largely bearish since then.
When was the last time DOGE traded at a support level of $0.07000?
DOGE last traded at a support level of $0.07000 on July 24. Since then, the cryptocurrency has seen a continuous decline.
More about Cryptocurrency Decline
- Understanding Cryptocurrency Market Cap
- What is XRP?
- An Overview of Dogecoin
- How the Relative Strength Index (RSI) Works
- Cryptocurrency Market Trends