$XRP, the native token of the Ripple network, saw its price decline by 15% last week as the investor sell-off continues.
The token’s price has now fallen 52% from July’s high of $0.934, which occurred after Ripple’s legal win over the SEC. Some analysts are now anticipating the price to continue dropping further.
Meanwhile, XRP20 ($XRP20), a new token with an innovative staking protocol, has raised $970,000 through its presale phase – and is trending toward the $1 million milestone.
Bearish Technicals Paint Grim Picture for $XRP
At the time of writing, the $XRP price is hovering around $0.611 after posting five bearish daily closes in a row.
$XRP has also ended in the red in the past three weeks, erasing a significant portion of the gains made during July’s sharp spike.
On the daily price chart, $XRP has now broken below the 20-day and 50-day Exponential Moving Averages (EMAs), indicating that the short and medium-term…
