Daily Price Analysis 09/10: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS, Litecoin (LTC)

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The general cryptocurrency market has started to rise following its lump last week. The total market cap yesterday was $192 billion but has gone up to $195 billion following its recent slump. The daily trading volume meanwhile stands at $11 billion.

There was no apparent catalyst for this rise, with some analysts of the view that the recent slump is just a market correction.

Bitcoin price analysis

Bitcoin has gone up by less than 1% over the past 24 hours. The leading cryptocurrency was trading at $6,168 yesterday but has now risen to trade at $6,294 though it reached a high of $6,395 a few hours ago.

The price of the leading cryptocurrency crashed during the week, as it lost more than $1,000 within a few days.

The trading volume, however, has dropped over the past 24 hours. BTC’s daily trading volume yesterday was $3.8 billion but it has now dropped to $3.6 billion.

Against the U.S Dollars, BTC has lost 14.5% of its value over the past five days. It was trading at $7,361 five days ago but has since then plummeted to currently trade at $6,294.

Ethereum price analysis

Just like Bitcoin, Ethereum is trading in the green zone but has recorded gains of less than 1% over the past 24 hours. The second largest cryptocurrency was trading at $196 yesterday and is still trading around that region.

ETH continues to underperform as there are claims that the performances of ICOs and tokens launched on the network affect the overall performance of ETH.

ETH’s daily trading volume has also dropped over the past 24 hours, slipping from $1.7 billion to now stand at $1.4 billion.

Over the past five days, ETH has lost roughly 20% of its value against the USD. It was trading at $286 a few days ago but has now dropped to trade at $196. Against BTC, it has lost 31% of its value over the past five days.

Ripple price analysis

Despite the slight increase in cryptocurrency prices, XRP is still trading in the red zone. The third largest cryptocurrency has lost 2.5% of its value over the past 24 hours to now trade at $0.27 per coin.

The daily trading volume meanwhile has increased, rising from $183 million yesterday to currently stand at $191 million.

Against the US Dollars, XRP has lost just 3% of its value over the past five days. It was trading at $0.33 five days ago but has now dropped to $0.27. Against BTC however, it has lost 17% of its value during that timeframe.

EOS price analysis

EOS has surged by more than 2% over the past 24 hours. It was trading at $4.7 yesterday but has now gone up to $5.03. The rise in price is followed by an increase in daily trading volume. EOS trading volume yesterday was $583 million but now stands at $619 million.

Its rise means that it is the biggest winner amongst the top 10 cryptocurrencies.

Over the past five days, EOS has lost 10% against the US Dollars. It was trading at $6.5 five days ago but has dropped to now trade at $5.03. It dropped even harder against BTC, losing by 24% over the past five days.

Litecoin price analysis

LTC has followed Bitcoin and Ethereum by gaining less than 1% over the past 24 hours. It was trading at $53 yesterday but has now gone up to trade at $54.

The daily trading volume meanwhile has slipped, dropping from $258 million yesterday to now stand at $252 million.

Against the US Dollars, LTC has lost 6.3% of its value over the past five days. It was trading at $67 five days ago but has now dropped to $54. Against BTC meanwhile, it has dropped by 20% over the past few days.

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