Crypto Market Bloodbath Continues, XRP/USD Could Gain Momentum Above $0.50
Bitcoin, along with other major cryptocurrencies ripple (XRP), Ethereum, bitcoin cash, stellar, and Litecoin, have fallen again over the last 24 hours as investors and traders fret over a flood of warnings on the future of cryptocurrencies.
Currently at the time of writing Bitcoin is trading at $5,319 low before reverting to $5.390. While XRP and ETH are losing 6% and 7% respectively amid growing trading volumes.
The drama surrounding the recent Bitcoin Cash fork has comprised the catalyst for significant action across the cryptocurrency market, with both BCH and BTC posting new lows for 2018 on Nov. 15. Meanwhile, XRP has again overtaken ETH to rank as the second largest cryptocurrency by market capitalization.
However, Ripple (XRP) has surged by more than 8 percent to $0.51, as the valuation of the crypto market increased by $4 billion from $181 billion to $185 billion.
The bitcoin cash so-called hard fork, a consequence of the coin’s developers and miners being unable to agree on a direction to take the cryptocurrency, resulted in the creation of bitcoin ABC and bitcoin SV.
The two continue to battle it out for dominance, waging what’s known as a hash war, as each tries to gain the upper hand in computing power and take control of the bitcoin cash network.
Ethereum keeps falling down as Ripple’s trading volume keeps growing. A factor behind that growth is Bitbank, a Japanese exchange that is now offering trading pairs between Ripple’s XRP and the Japanese Yen (XRP/JYP).
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