Ripple up 1.68%, short-term bear continues as coins face downtrend over past two weeks

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How Did the Fab Five Finish?

Since the previous day, the five most-watched cryptos ( Bitcoin Bitcoin Cash, Litecoin, Ethereum, and Ripple) provided their holders with a return of 0.02%. Leading the way was XRP, whose price is now around $0.269902 USD, which yielded holders a return of 1.68% from the day prior. In terms of the worst performer, that would be Litecoin, which reported a day-over-day return of -1.44% — a move that puts its price around $72.85 USD. Two of the coins had up days, which is a mixed sign for the crypto sector.

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Price Action to Watch

None of the coins had surprising moves, in the sense that the prices fluctuated within the typical range they have been fluctuating between over the past few weeks. Traders may also wish to bear in mind the following events going on regarding current price patterns:

  • The crypto market as a whole seems to be in bear mode; the five majors have been heading down over the past 14 days.

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Insights from the Blockchains

Ripple recorded 803,059 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 31% over Ethereum, which had the second-most transactions recorded on its chain. Ripple has a transaction fee less than the transaction fee of Ethereum, which may indicate that transaction fees might be a key reason why users are preferring Ripple. Bitcoin was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $72,131,360 US dollars. Bitcoin’s dominance of the crypto market remains intact, with it now accounting for approximately 68.16% of the value of all circulating cryptocurrencies To put that in perspective, we should note that over the past two weeks Bitcoin’s dominance percentage has been in an unclear trend, moving between 66.31% to 69.3%.

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