XRP (Ripple) Sustains Its Number 2 Cryptocurrency Spot as Ethereum (ETH) Looks for Next Catalyst

The past 24 hours have seen the global cryptocurrency sector witness a dramatic loss in the value of different premier alt-assets such as BTC, ETH, EOS, BCH etc. While some upward price movement has been witnessed over the course of the last 4-8 hours, the market sentiment at large continues to remain bearish.

Also worth mentioning is the fact that during the past 7-days, Bitcoin Cash [BCH] has been the biggest loser out of the top 10 altcoins available in the market today. In all, it is being estimated that BCH has lost more than 25% of its value over the past week.

Similarly, the total market cap of the altcoin sector too has dropped from around $211 Billion to a meagre $182 Billion in the span of less than 4 days.

A Sliver Of Hope Still Exists

While a majority of the news coming out of the cryptocurrency space right now is gloomy to say the least, some of the altcoins in the top 10 (including XRP, Stellar [XLM], EOS, Litecoin [LTC]) have experienced minor value gains since yesterday afternoon.

Also, at press time, XRP is trading at a stable $0.472 with a total market cap of $19 Billion (with the currency surging by over 4.5% during the last 24 hours)

Final Take

While some coins continue to see miniscule gains here and there, the digital currency space as a whole is presently in the midst of one of its worst financial runs in quite some time. Only god knows what the future has in store for this burgeoning market domain from here on out.

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Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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