This is one of the most terrible weeks for the cryptocurrency. Some traders are waiting for the cryptocurrency to rise but some are rushing to the market in order to sell it. Not only bitcoin but Ripple and Ethereum which are considered as one of the top currencies are going through the same phase.
After showing a great market compatibility in the market Ripple XRP is getting down once again. In last 24 hours, Ripple has lost about $5Billion market cap. It’s a huge loss for the Ripple because the market was seeing Ripple as the competitor of bitcoin.
Last night Ripple XRP was at $0.89 but right now it’s on $0.79 which can further drop to the below $0.70. An everyday market is uncertain and no one can predict about ups and downs of cryptocurrency. Not only Ripple but Etehreum has also about 12% to 13% in just 24 hours.
The current volume of Ripple XRP is $1.08 Billion and market cap is $29.40 Billion. Ripple XRP is on the 3rd rank in the cryptocurrency rating list. China is also responsible for making crypto market down because the Chinese government is trying to stop its citizens from reaching the sites who are offering ICO and trading of cryptocurrency.
Today in the morning XRP was having a good start from $0.81 but after 6 am it starts dropping to the value of $0.79. Currently, bitcoin is the value of $8,000 and Ethereum at $819.23. Different banks are stopping their customers from buying bitcoin and another cryptocurrency through credit cards.
This is going to make cryptocurrency value down. In just a few weeks cryptocurrency is at the lowest point in terms of value and it’s still hard to predict whether Bitcoin, Ripple and other cryptocurrencies are going to get up or is it just the end?