Connect with us

Hi, what are you looking for?



Market crash: XRP, Litecoin [LTC] slump by 9% and 12%; support-level breach possible

Today, the cryptocurrency market looks more than depressed as all the top-10 coins continue to slump at a ferocious rate. From Bitcoin [BTC] to Tron [TRX], all the coins have plunged by at least 9%. Here, XRP, the second-largest cryptocurrency, is showing a downfall of 9.5%, while the ninth-largest coin, Litecoin [LTC] has gone down by 12%.

The credit for the crash could be given to the hard fork of Bitcoin Cash [BCH] that has led the market into such doom. In the third week of November, Bitmain, the largest mining player in the space, shifted its focus from the BTC ecosystem to handle the BCH war with its opponent, Craig Wright, and nChain.

When Bitcoin began to crash, the coins in its correlation crashed along with it. Since then, the cryptocurrency market has not seen much of the bull as the bearish run does not want to take a leave.

At the time of writing, XRP was trading at a depreciated price of $0.3, with a market cap of $12.3 billion. The 24-hour volume is set at $619.2 million.

XRPUSD 30-minute candlesticks | Source: tradingview

XRPUSD 30-minute candlesticks | Source: tradingview

When the 24-hour cycle began, XRP was trading at a fair price of $0.34, where its market cap was $13.7 billion. However, the coin saw an elimination of almost $2 billion in the market cap in just a day wherein the lowest cap was recorded at $11.9 billion with the trading price of $0.29.

As of Litecoin, the coin is currently trading at $26, with a market cap equivalent to $1.5 billion. Here, its total trading volume in the past 24 hours was observed to be $453.7 million.

LTCUSD 30-minute candlesticks | Source: tradingview

LTCUSD 30-minute candlesticks | Source: tradingview

During the 24-hour cycle, the cryptocurrency touched a high of $30, with a market cap of $1.8 billion but soon crashed down to trade at $25 where its market cap was recorded at $1.5 billion. Therefore, LTC saw a total wipeout of at least $300 million in its market cap over the period of a day.



You May Also Like


Ripple CEO Brad Garlinghouse is adamant that Facebook’s unveiling of its Libra cryptocurrency will lead to big business for his banking software and cryptocurrency...


When thinking about investing in Ripple (XRP), the digital coin that runs on the Ripple’s payment blockchain system, traders ought to consider what function Ripple might play...


(PRLEAP.COM) Superior Coin, a global Cryptocurrency company (, announced today the unique use of it’s blockchain technology in regards to privacy, and security. With...


Many of the investors are looking for cryptocurrencies which can actually rise significantly in 2018. Most of the investors are looking at the lesser...

Copyright © 2020 Elevenews