Cryptocurrency Market Update: XRP Still Green in Bearish Selloff
Markets still falling back; XRP up but Ethereum still in pain.
Crypto markets are still bearish today following yesterday’s 15 billion dollar dump. What seemed to be signs of another small rally ended a few hours ago when markets turned south once again. They are currently below $210 billion total market capitalization.
Bitcoin has declined marginally over the past 24 hours, slipping a percentage point back to $6,400. BTC is currently in a short term ascending triangle which could spell more gains and a climb back to $6,600. Ethereum is not looking good today as it has lost a further five percent dropping its price down to a lowly $210.
Nearly all of the altcoins are still red again today with only XRP in the top ten showing gains at the moment. According to Coinmarketcap Ripple’s native token is up 8% on the day to $0.510. News about xRapid and Coil payments using XRP has revived investor interest in the altcoin which has made up a lot of ground over the past week, climbing over 50%.
The rest of the top ten is red with Bitcoin Cash and Cardano losing over 3%. Ethereum is the biggest loser at the moment. In the top twenty Dash, Tron, Nem and VeChain are all at a 3-4 percent decline during Asian trading. The rest are down marginally with only Ethereum Classic showing a tiny gain of 1% over the past day.
Today’s top one hundred big pump is Hshare which has surged over 40% to $3.10 at the time of writing. KuCoin will be upgrading HSR to HC, Hcash, in the next few days which is causing the Chinese altcoin to pump. Mithril, Electroneum and Monacoin are all up just over 10% also. At the top of the red list at the moment is Rchain dumping 10% followed by Aurora and Chainlink also losing out.
Total crypto market capitalization has declined by 1.4% today to $209 billion. Almost $20 billion has been dumped out of crypto since Sunday however markets are up 5% since the same time last Wednesday. They are at a similar level to this time last month but are still very close to the 2018 bottom. Bitcoin dominance has crept back up to 53% once again as XRP falls back and ETH suffers further losses.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.