XRP and Solana have both lost around 6% over the past 24 hours, falling amid a general reduction in risk traction in the markets and the two largest cryptocurrencies.
Despite the apparent depth of the pullback, XRP remains 32% above levels from a week earlier, and the current retreat is well within Fibonacci technical correction from the rally of the past eight days.
A drop below $0.78 would signal a deeper correction and open a quick path to $0.75. If all of February's gains are entirely nullified in the coming week and quotes pull back to below $0.60, it would be safe to speak of a new depressed period with a long-term downside potential of 50% to $0.3.
The technical picture in Solana and Polkadot is worse, as a shadow hangs over them. The rise from January 28th to February 7th looked like a technical rebound after being oversold since November. But this growth momentum is quickly fading. We can say for this coin that without positivity for the overall market, it will continue to lose ground faster than BTC and ETH.
