XRP has been one of the week’s most notable movers, with price moving lower for six straight days. The latest decline comes as the global cryptocurrency market cap fell by over 1% in today’s session. Solana also slipped, nearing a floor of $21.00 in the process.
XRP
XRP, formerly ripple, was once again in the red on Thursday, as price fell for a sixth consecutive session.
Following a high at $0.4889 on Wednesday, XRP/USD slipped to an intraday low of $0.4756 earlier in today’s session.
This resulted in the cryptocurrency closing in on a recent point of support around the $0.4670 region.
Overall, bears have controlled market momentum since a failed breakout of a resistance level at $0.5440.
At the time of writing, the relative strength index (RSI) is at 35.31, which is marginally above a floor at 31.00.
In the event the RSI reaches this point, there is a good chance that price will fall to its aforementioned floor at $0.4670.
Solana (SOL)
Solana (SOL) also edged lower in today’s session, as price neared a key support level earlier in the day.
SOL/USD hit a low of $21.28 on Thursday, which comes a day after the token peaked at a level of $22.29.
As a result of the decline, the world’s seventh largest cryptocurrency dropped towards a price floor of $21.00.
Currently, price strength is now sitting at 48.69, which is below a support level of its own at 49.00.
Should the index continue to move further away from this point, there is a strong possibility that SOL slips closer to $20.00.
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Will solana fall below $20.00 this month? Let us know your thoughts in the comments.
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