Shiba Inu (SHIB) Hits Two-Month Low
Shiba Inu (SHIB) experienced a decline on Monday, reaching its lowest point in over two months.
On Monday, SHIB/USD dropped to a low of $0.000007028, following a high of $0.000007413 the previous day.
This marks the lowest trading point for Shiba Inu since June 20, when it reached $0.00000698.
XRP Falls as SEC Lawsuit Continues
XRP, previously known as Ripple, saw a 5% decrease on Monday as the market reacted to ongoing news about the SEC lawsuit.
The Securities and Exchange Commission announced its plan to appeal a judge’s decision that Ripple Labs did not violate securities laws.
As a result, XRP/USD dropped to a low of $0.4682, following a high of $0.5007 the day before.
This decline pushed XRP to its lowest point since mid-August and pushed the RSI below a support level.
Hot Take: Meme Coin and Lawsuit Woes
Both Shiba Inu (SHIB) and XRP faced challenges on Monday. SHIB reached a two-month low, driven by a downward trend in prices and a declining relative strength index. Similarly, XRP experienced a 5% drop as the SEC announced its intention to appeal a judge’s decision. This ongoing lawsuit has put pressure on XRP, causing it to reach its lowest point in weeks. Both cryptocurrencies face uncertain futures as they navigate these obstacles. Traders should closely monitor price movements and key support levels to make informed decisions.
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