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Ripple prices have decreased today, following the broader lowest market Credit: Getty Royalty Free
Ripple prices decreased Monday, September 10th, due to the wider digital currency markets
Many cryptocurrencies were & nbsp; down & nbsp; at the time of the report & nbsp; with 9 of the top 10 with & nbsp; decreased in the last 24 hours on CoinMarketCap . & nbsp;
However, Ripple's XRP token was undergoing some of the major losses of the main criptos, having fallen by 6.4% during that period .
The XRP fell to a low of $ 0.2638 at 13:14 UTC (9:14 Eastern Time) on Monday, down 8.2% in the last 24 hours and 9.4% from the highest point reached the day before, CoinMarketCap data showed
[Editor'snote:Investingin cryptocoins & nbsp; or token is highly speculative and the market is largely unregulated. should be prepared to lose their entire investment.]
When he explained what caused the last decline of the XRP token, analysts pointed to various factors.
Downward trend
One factor that market observers identified was the broader decline of the digital suffering asset.
The XRP token has followed a downward trend since it reached an all-time high of around $ 3.78 in January. Since it reached this peak, the digital asset has lost more than 90% of its value.
Jon Pearlstone, publisher of the newsletter & nbsp; CryptoPatterns weighs on these developments.
" The XRP continues its downward trend since there was no major support test at the .42 level in August, and this is the level needed to regain control," he said. declared. & Nbsp;
"Since then, the XRP price action has been very bearish as a result of other large altcoins such as ETH who are misbehaving compared to BTC in what appears to be a" flight to security "to Bitcoin."
Supply and Demand
While Pearlstone focused on the charts, Eric Ervin, CEO of & nbsp; Blockforce Capital took a different approach, emphasizing the fundamentals of supply and demand that affect the price of XRP.
Ripple, the company that created the XRP token, is a great owner – and it is forming nt seller – & nbsp; of digital heritage, Ervin noted.
The company sold over $ 150 million of digital assets during the first quarter of 2018 and close to $ 75 million during the second quarter.
By selling millions of dollars of XRP tokens, Ripple put the downward price of these digital assets under pressure, helping to push them down.
Disclosure: I own some bitcoins, bitcoins and & nbsp; ether.
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Prices of a ripple have declined today, following the broader down market Credit: Getty Royalty Free
Prices of a ripple have declined on Monday 10 September, as a result of the wider digital currency markets
Many cryptocurrencies have decreased at the time of the report with 9 of the top 10 decreased in the last 24 hours on CoinMarketCap.
However, the Ripple's XRP token was undergoing some of the major losses of the main criptos, having fallen by 6.4% during that period
The XRP fell to $ 0.2638 at 13:14 UTC (9:14 Eastern Time) Monday, down 8.2% in the last 24 hours and 9.4% from the highest point hit the day before, CoinMarketCap data showed
[Editor'snote:Investingin cryptocoins or tokens are highly speculative and the market is largely unregulated. nsideri should be ready to lose the entire investment.]
When explaining what drove the latest XRP token declines, analysts pointed to various factors.
Downward trend
A factor that the market observers have identified the widest decline in digital assets.
The XRP token has followed a downward trend since it reached an all-time high of around $ 3.78 in January. Since it reached this peak, the digital asset has lost more than 90% of its value.
Jon Pearlstone, publisher of the newsletter CryptoPatterns, has reflected on these developments.
" XRP continues to decline trend by failure of a major support test at the level of 42 in August, and this is the level that the bulls have to regain control," he said.
"Since then, XRP's price action has been very bearish following other big altinis like ETH who are misbehaving compared to BTC in what appears to be a" flight to security "to Bitcoin."
Supply and Demand
While Pearlstone focused on the charts, Eric Ervin, CEO of Blockforce Capital, took a different approach, emphasizing the fundamentals of demand and offer that affect the price of XRP.
Ripple, the company that created the XRP token, is an important owner – and consistent seller – of the digital asset, noted Ervin.
The company sold over $ 150 million in digital assets during the first quarter of 2018 and close to $ 75 million during the second quarter.
By selling XRP tokens for millions of dollars, Ripple exerted downward pressure on the price of these digital assets, helping to push them down.
Disclosure: I own some bitcoin, bitcoin money and ether.
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