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Crypto update: Bitcoin (BTC), Ripple (XRP), and Litecoin (LTC) sink lower on Buffett comments

The cryptocurrency market has had a mixed weekend of trade and ended up giving back its gains and more during overnight trade.

This has left the entire crypto market with a value of US$449.9 billion according to Coin Market Cap, about 1% lower than where it was on Friday morning.

Here is the state of play on Monday:

The Bitcoin (BTC) price has fallen 2.7% since this time yesterday to US$9,545.35 per coin. This has reduced Bitcoin’s market capitalisation to US$162.5 billion. Bitcoin may have come under pressure following dismissive comments from Warren Buffett at this weekend’s Berkshire Hathaway meeting.

The Ethereum (ETH) price has tumbled 3.5% over the last 24 hours to US$778.92 per token, cutting Ethereum’s market capitalisation to just over US$77.3 billion.

The Ripple (XRP) price has been the worst performer among the major coins with a 5% decline over the last 24 hours to 86 U.S. cents. This leaves XRP with a market capitalisation of approximately US$33.7 billion. XRP came under pressure this weekend after Ripple Labs was accused of running a scheme to raise hundreds of millions of dollars via unregistered sales of its tokens. According to Bloomberg, a class-action complaint was filed on Thursday in the Superior Court of California.

The Bitcoin Cash (BCH) has risen 0.9% over the last 24 hours to US$1,709.24 per token, lifting its market capitalisation to US$29.3 billion. Traders continue to snap up the popular altcoin ahead of its Bitcoin ABC update on May 15.

The EOS (EOS) price has fallen almost 3.7% since this time yesterday to US$17.28 per token, reducing its market capitalisation to US$14.5 billion.

It was a similar story outside the top five with the likes of Litecoin (LTC), Cardano (ADA), and Stellar (XLM) all down by at least 4% over the last 24 hours. IOTA (MIOTA) and TRON (TRX) are also notably lower 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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