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Crypto update: Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) drop lower

The crypto industry certainly surprised many in the market last week with a solid move higher. This move higher accelerated over the weekend as trader sentiment continued to improve, before profit-taking set in and unfortunately weighed heavily on prices.

Here is the state of play in the industry on Monday morning:

The bitcoin (BTC) price has fallen around 1% since this time yesterday to US$8,383 according to Coin Market Cap, giving it a market capitalisation of US$141.3 billion. The world’s largest cryptocurrency climbed as high as US$9,106 over the weekend but was unable to hold onto these gains.

The Ethereum (ETH) price is currently fetching US$840.51, down 0.5% over the last 24 hours. This gives the popular cryptocurrency a market capitalisation of just under US$82 billion. Like bitcoin, Ethereum has been unable to hold onto its weekend gains and has fallen over 8% since peaking at US$917.40.

The world’s third-largest cryptocurrency, Ripple (XRP), is mostly flat during the last 24 hours. XRP is currently priced at US$1.03, giving it a market capitalisation of US$40.3 billion. At one stage this weekend Ripple scaled as high as US$1.26. This means the volatile altcoin has fallen a massive 18% from its weekend high.

The Bitcoin Cash (BCH) price currently stands at US$1,261, up 2.5% since this time yesterday. The bitcoin spin-off has a market capitalisation of US$21.4 billion after a solid seven days of trade. However, like the other cryptocurrencies, it has fallen almost 10% since peaking at US$1,391 over the weekend.

Popular altcoin Cardano (ADA) has seen its price fall 4% over the last 24 hours to 37.9 U.S. cents. This has reduced ADA’s market capitalisation to approximately US$9.8 billion. It also means that Cardano has tumbled over 18% since reaching a high of 46.2 U.S. cents during this weekend’s trade.

Elsewhere, it has been a similar story for Litecoin (LTC) and Stellar Lumens (XLM). Both altcoins are down notably from their weekend highs as traders take profit off the table following strong gains.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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