Crypto Markets Continue to See Red, XRP and ETH Tumble
Both Ripple (XRP) and Ethereum (ETH) take hefty price hits as market tumbles across the board.
Tuesday, September 25: amid a market-wide tumble, Ripple (XRP) and Ethereum (ETH) are seeing another day of steep losses. Both coins are shedding percentage value in the double-digits, as data from Coin360 shows.
Market visualization by Coin360
While Ethereum has now reclaimed its established ranking as second-largest coin by market cap on CoinMarketCap – which it briefly ceded to a soaring Ripple on September 21. The altcoin has today seen a 10.4 percent loss to trade at $209 to press time.
After soaring as high as $250 on September 22, Ethereum briefly held between $240–$245, before a plummet set in yesterday, accelerating yet further downwards today.
Ethereum’s total market cap is today close to $21.4 billion, slightly widening its margin ahead of Ripple, which has a total market cap of about $18.1 billion as of press time.
On the week, Ethereum’s gains remain up by 6.9 percent; monthly losses are at around 25.2 percent.
Ethereum 7-day price chart. Source: Cointelegraph Ethereum Price Index
Ripple (XRP) has had an unprecedented week, following its brief eclipse of Ethereum on September 21 to score a new ranking on CoinMarketCap as second-largest cryptocurrency in the entire market. The asset’s market cap had hit around $23 billion.
Nonetheless, the ensuing days have seen Ripple’s position decline somewhat. The asset is today down around 13.8 percent over the 24 hour period, and is trading around $0.45 at press time.
Possible reasons behind Ripple’s record-breaking growth include the Sept. 19 announcement that U.S. bank PNC will begin using Ripple’s xCurrent software solution to expedite cross-border transactions for the bank’s U.S. commercial clients.