In the dynamic world of cryptocurrencies, another significant downturn has shaken the trillion-dollar market, witnessing a drop of over 6% in the past 24 hours.
This latest dip has caught the attention of investors and enthusiasts alike, with leading crypto giants Bitcoin (BTC) and Ethereum (ETH) taking a hit and falling below key price levels—BTC dipping below $26,500 and ETH dropping below $1,700.
Amid this market-wide decline, Ripple’s XRP and Litecoin (LTC) have emerged as the most prominent casualties, suffering the steepest double-digit losses over the last day.
Both XRP and LTC have been dominating the crypto headlines since July, thanks to notable events that have kept them in the limelight. XRP’s legal victory against the U.S. Securities and Exchange Commission (SEC) and Litecoin’s halving event have sparked discussions and speculation.
However, with the sudden and dramatic price drop, these two tokens have now claimed the unfortunate title of the day’s biggest losers.
On August 17, XRP plummeted to a 4-month low of $0.4226, experiencing a staggering decline of over 17.30%, securing its position as the second-worst performer of the day.
Simultaneously, Litecoin hit a 9-month low, dropping to $61.76, marking a loss of more than 15% within a 24-hour period.
Unfortunately, the bearish momentum doesn’t seem to be letting up, and experts predict a continued downtrend for these cryptocurrencies in the days to come.
As of the time of writing, XRP is trading at $0.4918, reflecting a massive 17% decline in the past 24 hours. Notably, XRP’s trading volume has surged by an impressive 71.18%, indicating heightened activity surrounding the token.
Meanwhile, Litecoin is currently priced at $64.14, suffering a decline of over 15% in the last 24 hours.
Despite the dip, Litecoin’s daily trading volume has increased by 25.97%, as reported by CoinMarketCap.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
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