{"id":20691,"date":"2023-05-08T16:23:30","date_gmt":"2023-05-08T16:23:30","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/xrp-sol-move-5-lower-to-start-the-week-market-updates-bitcoin-news\/"},"modified":"2023-05-08T16:23:30","modified_gmt":"2023-05-08T16:23:30","slug":"xrp-sol-move-5-lower-to-start-the-week-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/xrp-sol-move-5-lower-to-start-the-week-market-updates-bitcoin-news\/","title":{"rendered":"XRP, SOL Move 5% Lower to Start the Week \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n\n<\/div>\n

Xrp plunged to a six-week low on Monday, as cryptocurrency markets moved further into the red. The global crypto market cap fell by over 3% to start the week, which comes days ahead of the upcoming U.S. inflation report. Solana also declined, hitting a multi-week low.<\/strong><\/p>\n

Xrp, formerly known as ripple, fell by as much as 5% on Monday, with the global market cap slipping by over 3% in the day.<\/p>\n

XRP<\/a>\/USD dropped to an intraday low of $0.4333 to start the week, less than 24 hours after hitting a high of $0.4606.<\/p>\n

As a result of this decline, XRP<\/a> moved to its lowest point since March 25, breaking out of a floor at $0.4360 in the process.<\/p>\n

\"\"
XRP<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, the slippage came as the relative strength index (RSI), broke out of a floor at 39.00.<\/p>\n

At the time of writing, the index is tracking at 36.04, with XRP<\/a> at a level of $0.4365.<\/p>\n

Overall, the token is down 5.11% as of writing.<\/p>\n

Solana (SOL)<\/h2>\n

Solana (SOL) remained in the red, as the token extended its own recent declines to a third session.<\/p>\n

Following a high of $22.74 on Sunday, SOL\/USD fell to a low of $21.01 earlier in the day.<\/p>\n

Monday\u2019s drop in price has sent SOL to its long-term support point at $21.00, resulting in its lowest level since April 26.<\/p>\n

\"\"
SOL\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

The token has rebounded from earlier lows, as the RSI found a floor of its own at the 44.00 mark.<\/p>\n

As of writing, price strength is tracking at 44.57, with a ceiling at 49.00 a potential target for bulls.<\/p>\n

If momentum does rise, and more bulls reenter the market, that could lead to SOL climbing back above $22.00.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

How high could solana climb this week? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\nEliman Dambell <\/h6>\n

\nEliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n