Ripple-affiliated cryptocurrency XRP dropped nearly eight percent earlier today to an intraday low of $0.403. This is the lowest level the beleaguered token has touched since February 23. XRP has once again tapped its pivotal support on the hourly chart, but it has so far managed to hold it.
After making plenty of noise with its manipulated pump-and-dump campaign at the beginning of February, the token is now poised to finish this month down nearly 16 percent.
As reported by U.Today, XRP spiked 20 percent in one day on February 22, the day Ripple had its first pre-trial conference with the U.S. Securities and Exchange Commission. The rally proved to be very short-lived. XRP tanked over 35 percent the following day before clawing back some of its losses.
