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Market bleeds; XRP, Bitcoin Cash {BCH}, Litecoin {LTC} decline as altcoins see red

Litecoin is ranked at #5 on coinmarketcap, ahead of Binance Coin. The trading volume recorded is $3.326 billion, while the supply has 63,039,581 LTC tokens in play. The total market cap of Litecoin is $4.680 billion. LTC is priced at $74.25, it plummeted by 12.63% in the course of the past 24-hours.

Bitcoin Cash is ranked ahead of Litecoin, at #4 in the market. The price descended by 11.89% in a matter of hours. The trading volume recorded is $1.823 billion, whereas the supply has 17,948,188 BCH tokens involved for now. The total market cap of Bitcoin Cash is $5.528 billion. At present, BCH is priced at $308.05. \

XRP is placed right after Bitcoin and Ethereum on coinmarketcap. The price of XRP sunk by 11.87%, which brought it down to $0.26019. The trading volume recorded is $1.915 billion, while the supply has 42,890,708,341 XRP coins circulating. The total market cap of XRP is $11.160 billion.

Most of the altcoins are dropping in the market. This could indicate the start of a bear market, which won’t be good news for investors. Although, this will allow potential HODLers to seep in and gather BTC, or any other asset they have in mind.

The U.S. Securities and Exchange Commission [the SEC] is yet to roll out an informed decision with regards to XRP being a security token or not. This ruling is bound to cause XRP to gain some momentum, if it is in the favor of Ripple. Although, the boost if incoming might be short-lived, as more coins will then be released from the pre-mined supply.

The trend present in the market may change after a day or two.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.