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.

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.

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

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

Looking at the chart, the slippage came as the relative strength index (RSI), broke out of a floor at 39.00.

At the time of writing, the index is tracking at 36.04, with XRP at a level of $0.4365.

Overall,

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Author: Eliman Dambell

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