Bitcoin, Ethereum, and Ripple tumble lower as strong run comes to an end

The crypto market has had a slightly disappointing start to the week and declines are being seen across the board this morning.

In fact, just one coin in the top 20 is currently in positive territory compared to where they stood 24 hours ago.

This has led to the entire value of the market falling by 2% over the period to US$221.1 billion according to Coin Market Cap.

There is no obvious catalyst for the pullback in crypto prices, so the likely explanation is that it has been caused by profit taking from traders.

After all, many of the most popular alt coins delivered double-digit gains over the last few days after positive industry news and one famed crypto investor calling a bottom on prices.

Here is the state of play on the market this morning compared to this time yesterday:

The Bitcoin (BTC) price is down 0.9% to US$6,632.33 per coin, reducing the crypto giant’s market capitalisation to US$114.65 billion.

The Ethereum (ETH) price has fallen 3.2% to US$234.44 per token. This has reduced the ETH market capitalisation to approximately US$23.95 billion.

The Ripple (XRP) price has plunged 7.8% lower to 52.2 U.S. cents, leaving XRP with a market capitalisation of US$20.8 billion.

The Bitcoin Cash (BCH) price has dropped 3.6% to US$468.79. This has reduced the Bitcoin spin off’s market capitalisation to US$8.1 billion.

The EOS (EOS) price is down 3.9% to US$5.75 per token, leaving the EOS market capitalisation down at US$5.2 billion.

Outside the top five things were equally bleak. The Stellar (XLM) price has fallen 1.6%, Litecoin (LTC) is down 3.9%, Cardano (ADA) is down 4.7%, and Monero (XMR) has tumbled 3% lower.

The only coin in the top ten in positive territory on Tuesday is Tether (USDT), which has edged ever so slightly higher to US$1.00 per token.

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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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