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The Altcoin markets in freefall as XRP, Litecoin prices fall to the lower values in 2018. the Bottom?
Due to the SEC's delayed decision by Bitcoin, the cryptocurrency markets have suffered a severe blow despite the delay with respect to the final result. The total market capitalization has risen from $ 255 billion to $ 233 billion currently and has caused many monetary lows for the 2018 lows. Let's take a look at Ripple (XRP) and Litecoin (LTC) and let's see how their performance went during this bearish bear market this year.
Ripple's XRP coin reaches 2018 Low
The third largest cryptocurrency by market capitalization, the XRP fell to a low of 2018 on Wednesday. The cryptocurrency dropped to $ 0.35, which is seven cents from the previous annual minimum of $ 0.42 in July. In particular, the current price is at its lowest level since December 12, 2017, a few days before the XRP and most of the other scrambles reached historical highs above $ 3 in a run to the cryptography market.
Now, XRP is down close to 90% over an 8 month period. This trend was driven by the bad press that it received through investor complaints resulting from falling coins prices.
Despite major recent bouts such as Coinbase deciding to list Ethereum Classic (ETC) instead of Ripple (XRP) and Western Union CEO stating that XRP did not make much difference to their company , the Ripple Community still has many supporters. Who knows if in the end Coinbase will list Ripple's XRP currency, but will ask if they are adding other coins before them that could be circumvented given its third place in the classification in the classifications of the encrypted market. Recently, Bill Clinton and Madonna joined the league to give Ripple support and credibility. While this may have done a lot to bring Ripple (the company) to the center of attention, it is difficult to understand what effect this has on the token, XRP.
Litecoin (LTC) Cryptocurrency Hits 2018 Price Point [19659004] Litecoin fell to its lowest point this year, down 8.9% from its previous annual low of $ 72.65, making it one of the biggest losers of 7 August.
Despite the adverse movements, the virtual currency managed to overcome the resistance level of 74.5 US dollars by breaking the 50% Fibo retracement level of the previous swing from a maximum of 78 US dollars at a low price of 72 US dollars. Litecoin (LTC) also traded above the level of $ 76 US and the 100-hour SMA.
If we look beyond the LTC price data, the project itself is evolving. Founder Charlie Lee confirmed that he is working with HTC to develop his new blockchain smartphone. Although the device serves as a portfolio for multiple currencies, Litecoin will naturally be in a better position thanks to Lee's involvement. At the moment, the price of LTC still has to match expectations. However, all the signals indicate that it is underestimated at this time and, therefore, a solid long-term investment.
What do you think of the XRP and LTC currencies that reach the lowest prices of the year so far? Will they manage to recover or the whole altcoin market is doomed to fail while the bitcoin domain continues to creep close to 50% +? One thing is certain, you can count on us to follow all the actions and report the facts to all of you fans of Ripple and Litecoin in the near future!
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