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.
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.
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.