XRP’s price falls to 2-month low – More losses incoming?

📆 6/8/2024 5:08 PM
📰 CryptoAmb

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XRP’s price cratered to a two-month low of $0.498 during the trading session on 7 June, according to Santiment’s data...

This decline was caused by market jitters following reports that Ripple, the token’s developer and largest holder, sold 150 million XRP, valued at $75 million at current market prices, on that day.

When an asset’s daily trading volume surges while its price falls, this is a bearish signal. It suggests that more market participants are selling the asset.AMBCrypto’s assessment of XRP’s price performance on the one-day chart revealed that the altcoin is poised for a further downtrend in the short term.

An asset’s 20-day EMA tracks its average price over the last 20 days. When the price falls under this key moving average, it signals a spike in selling pressure, suggesting that the bulls are losing market control.

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