Crypto update: Bitcoin and Ethereum lower, Ripple, Bitcoin Cash, and EOS push higher

The cryptocurrency market has managed to recover from a selloff and has pushed ever so slightly higher over the last 24 hours.

This has increased the value of the entire crypto market to US$336.4 billion according to Coin Market Cap, up 0.8% or US$3 billion since this time yesterday.

Here is the state of play on Friday morning:

The Bitcoin (BTC) price is down 0.7% over the period to US$7,560.25 per coin, leaving the world’s largest cryptocurrency with a market capitalisation of US$128.9 billion. The price of Bitcoin fell as low as US$7,330 yesterday after reports revealed that the U.S. Justice Department has launched a criminal probe into price manipulation of Bitcoin and other cryptocurrencies.

The Ethereum (ETH) price is down 0.2% since this time yesterday to US$591.66 per token. This means ETH now has a market capitalisation of just over US$58.9 billion.

The Ripple (XRP) price has managed to defy the market with a 3.5% gain over the last 24 hours to 63.1 U.S. cents. This lifted XRP’s market capitalisation to just over US$27.4 billion.

The Bitcoin Cash (BCH) price is up 2% over the period to US$1,050.88, improving the Bitcoin offshoot’s market capitalisation to US$18 billion. At one stage yesterday the Bitcoin Cash price plunged as low as US$958, meaning it has now recovered by almost 10% from its low.

The EOS (EOS) price has been the best performer over the last 24 hours with a 10% gain to US$12.15. This lifted the market capitalisation of EOS to US$10.7 billion.

Outside the top five the Litecoin (LTC) price was up 1.2%, the Stellar (XLM) price rose 2.7%, the Cardano (ADA) price fell 1.3%, the TRON (TRX) price is up 2.7%, and the IOTA (MIOTA) price has pushed 1.2% higher.

What’s next?

While it is good to see that the market has stopped the rot, I’m not overly convinced that the worst is over just yet. This will make the next 24 hours of trade very important and equally interesting to watch from the sidelines.

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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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