Ethereum [ETH] plunges by 15%; XRP glowing green, unaffected by the storm
The cryptocurrency is suffering from a harsh cold as the winter hit the space. Here, the state of coins occupying the second and third positions on the index have taken completely different approaches to deal with the bear market. While Ethereum [ETH], now the third-largest cryptocurrency has plummetted by more than 15% while XRP is an evident winner, seeing a hike of 0.28%.
At the time of writing, Ether was trading at $138 with a market cap of $14.3 billion. Its total trading volume in the past 24 hours is recorded to be $2.75 billion.
ETH 7-day price chart | Source: CoinMarketCap
At the beginning of the week, Ethereum started trading at a bullish $209 with a market cap of $21.6 billion. In a week’s time, the market cap of the token wiped out by a huge $7 billion, at least. This caused much damage to the reputation of Ethereum in the cryptocurrency market as it was raced by XRP and knocked off its previous spot.
As of XRP’s performance in the market, at press time, the coin was trading at $0.48 with a market cap of $19.4 billion. The total 24-hour trading volume was observed at $1.3 billion.
XRP 1-day price chart | Source: CoinMarketCap
As seen in the above chart, XRP is experiencing high volatility in its price trend. The cryptocurrency is forming huge waves amidst the assault launched by the bear.
Apart from Ethereum and XRP, the market is seeing some of the most plunged prices for big coins. Bitcoin [BTC] dunked below $4,500 to trade at $4,470 where its market cap was around $81 billion. Other cryptocurrencies, namely, Litecoin [LTC], Cardano [ADA], Monero [XMR] and Tron [TRX] are also facing much struggle after being down by more than 10% each.
In this scenario, Bitcoin Cash [BCH], which is currently undergoing several issues including a hash war has plunged to a surprisingly low percentage, i.e., 42%.
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