Crypto update: Bitcoin (BTC), Ripple (XRP), and Cardano (ADA) slide lower

It has been a bit of a mixed 24 hours for the cryptocurrency market. Although the market has dropped lower during this time, it has recovered from heavier declines.

This has left it with a total market value of US$255.7 billion according to Coin Market Cap, down 1.6% since this time yesterday.

Here is the state of play on Friday morning:

The bitcoin (BTC) price is down 1.6% during the period to US$6,780.10 per coin, reducing its market capitalisation to just under US$115 billion. Bitcoin came under pressure yesterday after one analyst warned that it could be heading to US$4,000. The analyst, Jani Ziedins from Cracked Market, suggested that bitcoin survived its “death cross” at the weekend due to being grossly oversold, rather than through a change of investor sentiment. Mr Ziedins believes that it will only be safe to buy bitcoin if it drops to US$4,000.

The ethereum (ETH) price has fallen 1.3% over the last 24 hours to US$377.70 per token. This has left ethereum with a market capitalisation of US$37.25 billion.

The Ripple (XRP) price is off 2.5% since this time yesterday to 49.4 U.S. cents. The popular altcoin’s market capitalisation has dropped to US$19.3 billion as a result of this decline. Ripple was dealt a blow this week after reports emerged claiming that it was trying to buy its way onto the biggest crypto exchanges. According to Bloomberg, Ripple has offered financial incentives to Coinbase and Gemini to list XRP, but neither has accepted the offer.

The Bitcoin Cash (BCH) price is down 1.5% during the period to US$683.83 per token, reducing its market capitalisation to US$10.9 billion.

The Litecoin (LTC) price has remained flat over the last 24 hours at US$118.71, keeping its market capitalisation on hold at just over US$6.6 billion.

Outside the top five it has been largely mixed with solid gains being made by EOS (EOS) and Monero (XMR), but sizeable declines from Cardano (ADA) and Stellar Lumens (XLM).

The Richest Man Alive Invests in This Instead of Litecoin

The richest man in the world has just launched a $100 million investment fund and investors who don't take note could miss out on a massive opportunity.

And it isn't by sheer luck. He did it by looking to the future and investing in the big ideas of tomorrow.

This could be your chance to get in on the ground floor!

Click here to discover more!

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 Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.