Crypto update: Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) bounce back

The cryptocurrency market has managed to steady the ship and is up slightly over the last 24 hours.

This means the value of the entire market has edged higher to US$408.4 billion according to Coin Market Cap.

Here is the state of play in morning trade on Friday:

The Bitcoin (BTC) price has pushed 0.2% higher over the last 24 hours to US$9,116.31 per coin, lifting its market capitalisation to almost US$155 billion. The world’s largest cryptocurrency appears to have shaken off recent media reports labelling it a scam. Former Paypal CEO Bill Harris told ReCode that Bitcoin was “the greatest scam in history” and dismissed its use as a means of payment and store of value due to the wild swings in its price.

The Ethereum (ETH) price has climbed 1.3% higher since this time yesterday to US$648.43 per token. This gives the popular alt coin a market capitalisation of US$64.2 billion. Traders have responded positively to news that key developers have expressed an interest in working together on the technical direction of the coin after recent infighting.

The Ripple (XRP) price has pushed 1.6% higher during the last 24 hours to 84.4 U.S. cents, giving XRP a market capitalisation of just over US$33 billion.

The Bitcoin Cash (BCH) price has risen 1.4% over the last 24 hours to US$1,359.59. This latest move higher has increased Bitcoin Cash’s market capitalisation to over US$23.2 billion.

The EOS (EOS) price has slipped ever so slightly lower during the last 24 hours to US$15.01 per token. This gives EOS a market capitalisation of just under US$12.3 billion.

It was a similar story outside the top five with small gains being made by Litecoin (LTC), Cardano (ADA), and NEO (NEO). While Stellar Lumens (XLM) and IOTA (MIOTA) have been the best performers on the market with a 7% and 4.4% gain, respectively, during the period.

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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 Scott Phillips.

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