[ad_1]
The bearish movements in the cryptocurrency market, which brought the price of Bitcoin to fall well below the $ 6,000, benefited from Ripple, given that the XRP currency surpassed Ethereum as the largest altcoin in terms of market capitalization.
New wave ripple sees the token become the biggest Altcoin By market capitalization, again
The bearish the movements that took place through the cryptocurrency market throughout November 14 and the early hours of November 15 led to the price of Bitcoin falling well below the value of $ 6,000, with the lowest trading price recorded around $ 5,500. .
Almost all cryptocurrencies have suffered a significant drop, with the Ripple XRP not different. However, despite being on the third consecutive day of decline on November 15, he managed to maintain his value better than most.
The November 14 fall brought the price of XRP from $ 0.5 to an intraday low close to $ 0.4, according to the report, adding that the price of the currency had since retired closing around $ 0 , 46.
On November 15, XRP was traded at around $ 0.44, demonstrating that the momentum is firmly on the sellers side. Both the RSI and the MACD is diminishing by showing the momentum of the seller.
This is not the first time that XRP has seen a meteoric rise in the market capitalism chart, with currency exchange Ethereum is a model that occurred multiple times in 2018. After the launch of the Ripple xRapid platform, XRP has passed Ethereum 6 November 2018, as well as 26 September.
General Outlook for the market remains bearish as buyers seek stability
And while the fall Bitcoin, Ripple, Ethereum, and Litecoin saw the fifth of the year on November 14, some things seem to be different this time. Second Forbes, the sell-off began after a two-month stability period rather than after a short peak and exceeded $ 6,000 and $ 5,800-mark, which was seen as a "fund" for Bitcoin.
Clement Thibault, Senior Analyst at the global financial platform Investing.com told Forbes that a decline of less than $ 6,000 for Bitcoin was a clear sign of bearish market.
However, Henry James, vice president and president of Fincross International, is not surprised by the sell-off. He explained that a breakout from this price range was expected for a certain number of days, as it followed a long period of stiffening the price action between Bitcoin, Ether and other cryptocurrencies.
James said:
"This last sale suggests that buyers are still hesitant at this stage and are looking for more real-world cryptocurrency cases"
XRP, currently in second place due to market capitalization, has expired 2.09% in the last 24 hours. XRP has a market capitalization of $ 19 billion with a 24-hour volume of $ 690.74 million.
Graph of CryptoCompare
The XRP has increased by 2.09% in the last 24 hours.
Ethereum, currently in third place by market capitalization, is growing 0.5% in the last 24 hours. ETH has a market capitalization of $ 18.4 billion with a 24-hour volume of $ 2.1 billion.
Graph of CryptoCompare
Ethereum has risen by 0.5% in the last 24 hours.
Cover photo by Dani OOWL on Unsplash
Disclaimer: The opinions of our writers are exclusively their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate approve any projects that may be mentioned or linked in this article. Buying and exchanging cryptocurrencies should be considered a high-risk activity. Please do your due diligence before taking any action related to the contents of this article. Finally, CryptoSlate assumes no responsibility in case of loss of money in the trade of cryptocurrencies.
Did you like this article? Join us.
Receive blockchain news and crypt insights.
Follow @cryptoslate Join us on Telegram
[ad_2]
Source link
