The altcoin market is slowly moving towards reducing the losses that it had last month, with a handful of cryptocurrencies going up in the past 24 hours. XRP, Ethereum [ETH] and Cardano [ADA] are the leaders of the rally, reflecting double-digit gains over the past week.
XRP rode on a lot of hype over the past week, going up by over 25% in that time. xRapid, Ripple’s product that utilizes XRP, is slated for launch in the next month, according to a statement made by a company executive earlier this week.
18% of the growth occurred just over the past 24 hours. Even as the coin saw a 4% overall loss over the month, the price of the coin is above the crucial $0.30 resistance.
Currently trading at a price of $0.32, the coin was trading well below the $0.30 level over the past week. Demonstrating a non-volatile sideways movement over the past week under the $0.27 mark, it saw a sharp spike in both the price and volume to the $0.30 mark.
The volume was $244 million on the 18th and is currently at $740 million. The movement in price is correlated with volume, with the rise in price sticking closely to the rise in volume.
Ethereum, on the other hand, grew by 20% in the past 7 days after a fall below $200. It suffered a whopping 28% loss over the month over concerns of ICOs selling the ETH they had raised during the ICO bubble last year.
The coin went up 5% in the past 24 hours, and is currently trading at a price is $207. It recovered from a low of $170 in the second week of September to rise above the $200 mark with a rally on 13th to above $200. After this hike, it was consistently trading around the $210-$220 range. After dropping down below $200 yesterday, it recovered to trade above the $210 mark today.
Cardano’s ADA is pumping by 15% over the past 7 days, and 12% in the past 24 hours. Even as it is currently in a loss of 28% from last month, the price of the currency is currently trading at $0.07. It dropped on 4th September below the $0.1 mark and continued its drop to near $0.085.
It saw a second drop from 7th September to 12th September, where it saw a slow slide down to about $0.062. It was trading below the $0.070 mark before the hike yesterday to $0.068. After its current rally, it broke the $0.068 mark and is currently trading at $0.71.
The post XRP sees 25% growth and 3x volume increase; Ethereum [ETH] and Cardano [ADA] rally with 20% and 15% appeared first on AMBCrypto.