Monday was yet another down day for cryptocurrency markets as the global market cap dropped by over 3%. XRP and SOL were among the biggest losers, with both tokens finding their lowest levels in weeks. XRP fell by over 5% and broke out of its upper floor at $0.4360 while SOL dropped to its long-term support point of $21.00. The Relative Strength Index (RSI) was the key indicator in each case, with both tokens finding a floor at 39.00 and 44.00 respectively. For XRP, the decline pushed it to its lowest point since March 25. Similarly, for SOL, this fall moved the token to its lowest mark since April 26. At this time, there has been minimal recovery in either token, with XRP trading at $0.4365 and SOL at $21.48. Bulls will have to mount a strong comeback if they are to overcome the recent decline, with XRP needing to break out of $0.4450 and SOL needing to climb above $22.00.
Eva Perez
- 2023-05-08
Crypto Markets Drop, XRP and SOL Lowest Weekly Levels
Monday was yet another down day for cryptocurrency markets as the global market cap dropped by over 3%. XRP and SOL were among the biggest losers, with both tokens finding their lowest levels in weeks.
