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XRP Makes Comeback On RLUSD Launch, Shiba Inu (SHIB) Has No Ground Under Its Feet, Solana (SOL) Downtrend Becoming Scary
In a surprising turn of events, Ripple’s XRP has made a comeback as the launch of RLUSD has seemingly sparked a renewed interest in the asset. However, not all cryptocurrencies are experiencing a similar boost. Shiba Inu’s (SHIB) downward trend shows no signs of slowing down, while Solana’s (SOL) downtrend has become increasingly concerning.
The data reveals that XRP’s buying pressure is starting to pick up steam, with a significant increase in purchasing activity following the RLUSD launch. The asset’s price is now hovering around $0.35, but it remains to be seen whether this resurgence will be sustained or just a temporary bounce.
On the other end of the spectrum, Shiba Inu (SHIB) continues to spiral downward, with no indication that its bearish momentum will be halted anytime soon. The asset’s price is plummeting, and any short-term recoveries seem unlikely in the current market conditions.
Solana (SOL), unfortunately, has also succumbed to a downtrend, which may exacerbate concerns about the cryptocurrency’s long-term prospects.
Source: u.today
