Ripple (XRP), Litecoin (LTC), and Ethereum (ETH) Shine as Market Recovers
After an incredibly harsh week on the crypto market, Ripple (XRP), Litecoin (LTC), and Ethereum (ETH) lead the crypto recovery for the top ten cryptos.
Out of the top 100 cryptocurrencies, only 10 are currently down – quite the turnaround from the rest of the week. This was a week full of ranking swaps, coin rebrands, and Bitcoin plunges. One can only imagine what’s going to happen next week.
Are the losses finally over? Is the crypto market on the road to recovery at last? Let’s delve into Ripple, Litecoin, and Ethereum to examine what’s happening more closely.
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Ripple is currently the top gainer within the top ten cryptos, with a selling price of $0.990974. XRP is up at last by 6.13% in the past 24 hours – great news, although the coin is still trading below the $1.00 mark.
Ripple dipped below $1.00 for the first time in weeks early on Wednesday. It rebounded above $1.00 briefly later in the day but since Thursday XRP has been trading below $1.00, reaching as low as $0.89 at one point.
Ripple has been making moves to improve its technology. XRP is looking into its consensus algorithm and for a way to improve the diversity of node connections. Both of these improvements are being submitted as white papers to be peer-reviewed.
“What we’re trying to do here is add some defenses against some unlikely attack scenarios. Basically, it says you can’t completely manipulate the entire network,” explained Stefan Thomas, Ripple’s CTO.
Whether this news has had any sort of effect on Ripple’s price in the past few days is difficult to say. The only certainty is that Ripple looks to be moving up once more – so, how long will this price movement last?
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Litecoin is currently selling at $207.80, putting the coin up 5.89% in the past 24 hours.
LTC dipped a little in the last few hours, but it looks to be growing again.
Litecoin dipped as low as $184 this week, after achieving a high of $252 on Tuesday.
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Ethereum is currently selling at $852.83, putting the coin up 5.01% in the past 24 hours. On Thursday, Ethereum dipped below $800 but has been climbing since.
Ethereum climbed as high as $886 earlier today and has since leveled out, but the coin looks to be climbing again.
Ethereum co-founder Vitalik Buterin hinted earlier this week that they were close to launching the sharding testnet.
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Are the markets recovering today because people are buying the dip – buying crypto while it’s lower, thus driving the prices back up? This is a possible explanation to why so many coins are in the green right now.
Featured image: geralt