Fri, Aug. 9 — Bitcoin (BTC), Ether (ETH) and XRP are slumping along with the residue of a largely red cryptocurrency market.

Coin360

Market visualization. Source: Coin360

Bitcoin is trading at $eleven,910 at press time, with approximately a i.sixteen% loss on the day. Bicoin has broken $12,000 three times this week, just has lost traction at or above that price point. Still, some BTC bulls are maxim that the current marketplace weather indicate only a temporary setback for its inevitable surge beyond the previous all-time high. Serial VC investor Tim Draper commented:

"I thought there would be many more than competitors at this point that were actually relevant, but people take consolidated towards Bitcoin because it's decentralized."

BTC

Bitcoin vii-twenty-four hours price chart. Source: Coin360

The number two cryptocurrency, Ether, is down past around 4.37% at press time to merchandise at $211. Over the past 7 days or then, ETH rose to its peak in the middle of the week on Tuesday earlier sinking back down all the way through Friday.

Co-ordinate to a price analysis by Rakesh Upadhyay, Ether is currently sitting around its uptrend line, which it has not failed to exceed since Feb. However, should ETH fall below this line, this will betoken that its ongoing uptrend is over.

ETH

Ether vii-day cost nautical chart. Source: Coin360

Number three cryptocurrency XRP is downward by 1.96% at press fourth dimension, trading merely slightly over $0.303. Like ETH, XRP has seen a largely steady driblet in price since Tuesday.

Ripple, the issuer of the crypto XRP, recently entered into a partnership with the American financial company MoneyGram. According to the report, MoneyGram has been using Ripple'south service XRapid, which is the company'southward XRP-based instant settlement product. MoneyGram'southward use of xRapid is manifestly a core stipulation of their $30 one thousand thousand agreement.

XRP

XRP 7-day cost chart. Source: Coin360

Amid the pinnacle-xx cryptocurrencies, the coins seeing the well-nigh losses on the day are Tron (TRX), Tezos (XTZ) and Cardano (ADA), which at printing fourth dimension are trading down 8.6%, vii.26% and 7.27%, respectively.

The total market capitalization of the tiptop 100 cryptocurrencies remains over $301 billion at press fourth dimension, according to information provided past Coin360'southward summary table.

Go along rails of meridian crypto markets in real time hither