#SolanaUSTD matches market downturn
$SOL is in the red by 9.84% over the past week and, therefore, is playing its part in a broader market correction that has looked to drag many of the major #Cryptocurrencies down. A correction that’s seen CoinMarketCap’s best crypto of 2024 fall to a market capitalization of $63.5 billion.
The blockchain network Solana is known for high performance and is reputed for faster transaction speeds. Increased selling pressure on the network has started unnerving investors. Whatever its setback might be, SOL ranks among the major cryptos that keep DeFi and NFTs alive in space.
And now, some SOL holders have been recently reconsidering their portfolio, having been affected by changing market sentiment and the Fear & Greed Index inching into the Fear region.
$XRP : The good, bad, and ugly news
Ripple’s XRP entered August 2024 on a very positive note, overcoming the SEC disgorgement of $1 billion. Immediately upon this legal clearance, the XRP price started to surge higher, taking the price from $0.44 to $0.63 in less than 48 hours.
As could be expected, the enthusiasm was short-lived, and the XRP price plummeted straight back to earth. The token has retracted 7.71% over the past week.
Adding to its woes is the prevailing market sentiment for #Xrp🔥🔥 , which has seen 13 green days 🟢 out of the last 30. It’s now diving deep with an overall bearish sentiment, and all indicators show it is heading toward a very rough road, just like SOL
