With a market value of $41 billion, Ripple surged to the third place before again falling down on the fourth one. The battle between Ripple and Bitcoin Cash is real in terms of market cap, and the fluctuations in prices are affecting it big time.
Still, the major news isn’t Ripple or Bitcoin Cash. Instead, it is the big sink that happened yesterday where the price of Bitcoin fell 25% below its all time high, just like Ethereum, Litecoin and every other cryptocurrency in the top 20 besides Ripple.
The reason for that is the interest in alternative cryptocurrencies – known as altcoins – which tends to increase when there is too much news regarding blockchain, according to experts. Still, the sink happened universally which raises a lot of eyebrows on the situation regarding buying and selling virtual currencies.
For example, the dropped prices now seem like great for investing in cryptocurrencies. However, no one knows if these coins will drop even more and if there will be a better time (and prices) to invest in them.
With XRP (Ripple) as the only one rising, there are rumors on social media that it will be the next coin to be listed on Coinbase. Created by Ripple, a blockchain firm, the altcoin is used in international payments – to exchange high-value transactions from one fiat currency to another directly.
No one knows what the market will look like in the next days or weeks from now. However, New Year and Christmas are times when people are more laid back than usual – hence the sinking activity on the market cap too.
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