All good things must come to an end. This was evidently the case as leading cryptocurrencies took a tumble today after enjoying a market surge that saw crypto numbers skyrocketing. Bitcoin trading also slowed down as trades dropped to 4% while Ethereum (ETH) and Ripple (XRP) stooped to a low 7%.
Analysts don’t seem to be concerned about the decreased numbers as they believe the market hasn’t totally lost its momentum. The general consensus is that more price gains remain on the horizon.
Presently, Ethereum has traded down to 7.4%, with current prices set at just below $160. This was quite a surprise considering the roller coaster week the company had. The ETH rose to a staggering $178 from $140 before hitting the current ceiling.
Despite the drop ETH experienced, experts are confident the company will enjoy a higher surge next time. This will reportedly be due to the markets maintaining a considerable amount of their gains, which indicates that its forward momentum will continue in the next few days.
Ripple is also experiencing the same downward spiral as Ethereum. The company has also traded down at an estimated 7% of its present price of $0.33. It’s down from the high $0.37 it enjoyed this week but it’s still trading in positive figures if you take into account it also reached a low $0.30.
XRP might have fallen behind some of the leading cryptocurrencies in the last several days, but it is rallying strongly and appears set to land in the $0.32 to $0.33 area. It could be an indication that more gains are in the company’s future if support continues to hold strong in this level.