After advancing to its highest level of 2019 at $0.51 on June 22, Ripple staged a technical correction last week and tested the $0.4 mark. Although the pair looked like it was getting ready for the next leg up as it rose more than 3% yesterday, it struggled to build on Monday’s gains and turned south on Tuesday.
The pair slumped to its lowest level since June 9 at $0.3840 in the last hour and was last seen down 4% on a daily basis at $0.3920. Ripple’s market capitalization, which rose above $20 billion when its prices hit $51, was last $16.4 billion according to the latest available data on coinmarketcap.com.
This latest drop seems to be a product of a broad selling pressure surrounding cryptocurrencies. In fact, both Ethereum and Bitcoin, the two biggest cryptocurrencies with regards to market capitalization ahead of the XRP, were down more than 4% in USD terms to reflect the sour sentiment.
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