Altcoin Market Slumps: Ripple Hits 20-Month Low Amid Broader Bearish Tone

The altcoin market remains bearish, with Ripple (XRP) hitting a 20-month low. The price of XRP is currently hovering around $1.01, with immediate support at the horizontal level near $1.00 and the S1 Pivot level at $0.99.

XRP's momentum is weak, as indicated by its Relative Strength Index (RSI) at 36, which hovers close to the oversold boundary. The Moving Average Convergence Divergence (MACD) remains below the signal line in negative territory, suggesting that downside pressure remains dominant.

Cardano (ADA) and Solana (SOL) are also facing a bearish tone, with ADA trading around $0.1906 and SOL above $75. However, both assets lack upside momentum and risk losing their recent gains.