Daily Price Analysis 08/23: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS, Litecoin (LTC)

The cryptocurrency market has lost $9 billion over the past 24 hours. The total cryptocurrency market cap was $217 billion yesterday but has dropped to $208 billion.

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The cryptocurrency market has lost $9 billion over the past 24 hours. The total cryptocurrency market cap was $217 billion yesterday but has dropped to $208 billion.

This slip comes after the U.S SEC rejected nine Bitcoin ETF proposals from ProShares and two others. The daily trading volume has also dropped from $12 billion yesterday to currently stand at $11 billion.

Bitcoin price analysis

The Bitcoin price has dropped from $6,692 yesterday to currently trade at $6,447. The drop came prior to the news that the U.S SEC has rejected two Bitcoin ETF proposals from ProShares and seven others.

The rejection has so far had no effect on the Bitcoin price. The Bitcoin market dominance still stands at 53%. The daily trading volume has slipped from $4.1 billion to $3.9 billion over the past 24 hours.

Bitcoin was trading at $6,416 a week ago but has since then traded sideways, reaching a weekly high of $6,786 yesterday.

Ethereum price analysis

The Ethereum price has lost nearly 4% over the past 24 hours, dropping from $281 yesterday to now trade at $275. ETH slipped alongside the general market as cryptocurrencies lost most of the gains they recorded yesterday.

The daily trading volume has retraced back to $1.3 billion after reaching $1.5 billion yesterday. The price is expected to drop even lower within the coming hours.

Over the past seven days, ETH has lost 5.8% of its value. It was trading at $292 a week ago but has now dropped to $275.

Ripple price analysis

Ripple has followed Ethereum and Bitcoin in recording losses over the past 24 hours. XRP has lost over 5% of its value over the past few hours, dropping from $0.34 to $0.32. Ripple’s CTO claims that XRP’s Ledger is completely decentralized.

The daily trading volume has dropped for the third consecutive day. It was $265 yesterday but has now slipped to $238 today.

Despite the recent loss, the XRP price is still up 9.3% from its position a week ago. It was trading at $0.29 a week ago but has gone up to $0.32, with a weekly high experienced at $0.35 during the week.

EOS price analysis

The DApp and smart contract cryptocurrency has lost 5.6% of its value over the past 24 hours. The coin was trading at $5.04 yesterday but has now dropped to $4.77 following a slip in the wider market.

The 24-hour trading volume has also dropped, slipping from $592 million yesterday to currently stand at $453 million.

The price of EOS a week ago is similar to its price now. It was trading at $4.75 a week ago but experienced a high of $5.51 and a low of $4.55 during the week.

Litecoin price analysis

Litecoin has lost 3% of its value over the past 24 hours to now trade at $55. LTC has been trading between $55 and $57 over the past five days.

The daily trading volume has dropped by $7 million. LTC’s 24-hour trading volume yesterday was $217 million but has now dropped to $210 million following a drop in LTC price.

Litecoin has lost around 1% of its value over the past one week. It was trading at $56 a week ago though it experienced a high of $61 and a low of $54 during the week.

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