Ripple and Stellar drop below key support levels as US-Iran tensions and bearish charts weigh on cryptocurrency markets.
XRP and XLM extended losses Thursday, falling over 6% and 10% this week, respectively. XRP broke below $1.090, while XLM recorded a fifth straight day of declines, closing under critical support levels.
The declines follow broader market pressure from weakening technical indicators and heightened geopolitical risks, including US-Iran tensions. Both cryptocurrencies had struggled to maintain momentum after recent rallies, with traders citing profit-taking and risk aversion.
No immediate market reaction data was reported, but the downturn reflects broader sentiment shifts in digital asset markets amid macroeconomic uncertainty.