Filecoin has been trading inside a significant downtrend since the beginning of April after establishing a new all-time high at $238. The cryptocurrency market suffered a notable correction in the past 24 hours which hasn’t helped FIL.
Bitcoin (BTC) extended its price drop on Wednesday amid warnings that excessive long positions needed to be flushed out to allow for fresh gains.
The Ripple price had one of the craziest rallies in the past three days, jumping by 100% to a three-year high of $1.19. Despite the ongoing SEC lawsuit against Ripple, XRP holders have grown confident in the digital asset and managed to push it above several important resistance levels.