Ripple’s XRP and Litecoin plunged to new Lowest yet Seen in 2018
The world’s third largest cryptocurrency by market capitalization, XRP’s price plunged to a new low in the year 2018 on Wednesday.
According to the data from Bitfinex, XRP price dropped to $0.35 from the previous year’s low of $0.42 in July. The current price stands at its lowest level since December 12, 2017, days before XRP shot up to all-time-highs over $3.
Experts suggest that the price is plunging not only because of the bearish market trend of cryptocurrencies but due to the bad press for Ripple often associated with XRP.
XRP Daily Chart
Ripple’s XRP has successfully held on to the support at $0.4242 for the past one week. If its price drops below $0.4242, it may extend its fall to $0.37942 and to $0.32862 gradually.
At the time of writing, the price of XRP continues to head south down by 13.85% on a 24-hour basis, according to the data from CoinMarketCap. XRP is trading at a price of $0.354 with market capitalization of 13,913,688,299 USD.
See also: IOTA plans to extend its territory in North America, says IOTA foundations’ Wilfried Pimenta
Litecoin Daily Chart
On August 4, Litecoin [LTC] dropped down below the critical support at $74.074. Later recovered back to the range on August 5. Litecoin [LTC] has also dropped to its lowest value this year, dropping to 9.5 percent from the previous year low of $72.65. At the time of writing LTC was trading at a price of $66.75 with a market capitalization of 3,855,170,330 USD.
According to CoinMarketCap, other major cryptocurrencies such as Ethereum [ETH], EOS and Bitcoin [BTC] are down by 8.19 percent, 13.61 and 6.02 percent respectively.
Other major cryptocurrencies such as are also dropping down. For example, bitcoin is down 6.02 percent over a 24-hour period after it dropped from its $7,000 support zone yesterday. The total market Capitalization of all digital currencies plunged below $250 billion.
Join our telegram group