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
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.
Dogecoin (DOGE)
Dogecoin (DOGE) extended its own stay in bearish territory on Thursday, as the meme coin fell by as much as 5% today.
The decline saw DOGE/USD drop to an intraday low at $0.07305, less than 24 hours after peaking at $0.07703.
As a result of this sell-off, dogecoin has fallen to its lowest level since July 24, which is the last time price was trading at a support of $0.07000.
Similar to XRP above, Thursday’s decline comes as a result of price strength falling below a floor at 51.00.
The RSI is currently at a reading of 50.23, with DOGE trading at $0.07339, which is marginally above today’s bottom.
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