Lorenzo Stroe
Independent Analyst
- XRP/USD is currently trading at $0.259 after a massive dump to a low not seen since August 1.
- Most of the gains from the daily uptrend are now gone with XRP losing a significant portion of its dominance.
According to the CoinMarketCap dominance chart, XRP is now down at 3.3% dominance from its previous high at 3.83%, a low not seen since July 2020. The weakness of XRP is quite apparent now as the digital asset will have very little support on the way down to $0.20.
While most of the market is also seeing red numbers, major coins have been holding on quite well. XRP bulls will now need to see a bounce from any support level to have any chance to recover its daily uptrend.
XRP/USD 1-hour chart
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