RATE Group | Ripple Drops 8% as Volume Drops 50% in 1 Week, Bitcoin Bear Biased
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Ripple Drops 8% as Volume Drops 50% in 1 Week, Bitcoin Bear Biased

07 Oct Ripple Drops 8% as Volume Drops 50% in 1 Week, Bitcoin Bear Biased

Posted at 15:23h in Bitcoin News by

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Ripple

On October 6, CCN reported that the volume of Ripple has declined by more than 50 percent within the past four days. Since then, XRP has declined by around eight percent against the US dollar.

The volume of Bitcoin has slightly recovered to $2 billion on CoinCap.io and $3.3 billion on Coinmarketcap, but the dominant cryptocurrency has not recorded any significant increase in volume and price to suggest that a short-term rally is in play.

Ripple (XRP), Basic Attention Token (BAT), and Decentraland (MANA) remain as the worst performing cryptocurrencies on October 7, recording losses in the range of five to seven percent against both the US dollar and Bitcoin.

Weak Volume Will be an Issue Throughout Next Week

Yesterday’s report on the cryptocurrency market by CCN emphasized the low volume of Bitcoin and the inability of the cryptocurrency market to initiate a meaningful increase in valuation in the short-term without a promising recovery by BTC.

“Given the low volume of…

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