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Breaking: XRP/USD massive dump to $0.257 after overall market weakness

  • 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.
Breaking: XRP/USD massive dump to $0.257 after overall market weakness
Lorenzo StroeLorenzo StroeIndependent Analyst

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

XRPUSD

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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