Daily Price Analysis 09/24: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS, Litecoin (LTC)

The total cryptocurrency market cap currently stands at $218 billion while the 24-hour trading volume has dropped from above $20 billion to now stand at $13 billion.

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The cryptocurrency market has continued to stay above the $200 billion market cap, as most cryptocurrencies have been able to retain some of the gains they garnered in the recent bull run.

The total cryptocurrency market cap currently stands at $218 billion while the 24-hour trading volume has dropped from above $20 billion to now stand at $13 billion.

Bitcoin price analysis

The leading cryptocurrency has lost nearly 2% of its value over the past 24 hours. It was trading at $6,735 yesterday but has now dropped to trade at $6,602. There was no apparent catalyst for this downward movement as the market continued to shed some of its gains.

The 24-hour trading volume meanwhile has remained stagnant at $4.1 billion.

Despite losing some of its value over the past 24 hours, Bitcoin is up 4.2% against the U.S dollars over the past five days. It was trading at $6,329 five days ago but surged higher, experiencing a high above the $6,800 mark.

Ethereum price analysis

The second largest cryptocurrency has lost nearly 5% of its value over the past 24 hours. ETH was trading at $245 yesterday but has now dropped to trade at $233.

This decline comes despite a Weiss Ratings prediction promising that Bitcoin will lose 50% of its market share to Ethereum by 2023.

Daily trading volume has also stayed almost the same over the past 24 hours. ETH 24-hour trading volume saw a small bump from $1.6 billion yesterday to today’s $1.7 billion.

A look at the ETH chart shows that it has gained nearly 12% against the US dollar over the past five days. Trading at $208 five days ago, it has since surged to reach a weekly high of $251, before falling to now stand at $233.

Against Bitcoin, Ethereum is up 7% over the past five days.

Ripple price analysis

Ripple was the architect behind the latest bull run but has since entered a slump. The third largest cryptocurrency lost more than 11% of its value over the past 24 hours, falling from yesterday’s high of $0.58 yesterday to now stand at $0.51.

The daily trading volume has lost $500 million over the past 24 hours, dropping from $1.4 billion yesterday to currently stand above $900 million.

Despite its plunge, XRP is still 62% up against the dollar over the past few days. Five days ago, it was trading at $0.31 but embarked on a bull run that saw it reach a high of $0.73.

XRP is also up 56% against BTC over the past five days.

EOS price analysis

EOS is one of the biggest losers amongst the leading cryptocurrencies, losing over 6% of its value over the past 24 hours.

It was trading at $6.06 yesterday but has now dropped to trade at $5.67.

Despite the losses, the trading volume has risen from $608 million to $700 million over the past 24 hours. There was no apparent catalyst for this drop as EOS partook in the general market sell-off.

Following general market trends, EOS has recorded gains over the U.S Dollar over the past five days as well. It was trading at $5.05 five days ago but has gained 12.9% over the past few days, reaching a high of $6.2 during that timeframe.

Litecoin price analysis

The seventh largest cryptocurrency lost more than 7% of its value over the past 24 hours. LTC was trading at $63 yesterday but has now dipped to trade at just $57 per coin.

LTC daily trading volume has also slipped, dropping from $308 million to its current $288 million.

LTC has gained 7.5% against the U.S Dollar over the past few days. Against Bitcoin, it has gone up by nearly 3% over the past five days.

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