- XRP hit a 4-month low of $0.4226 with a decline of over 17.30%.
- Litecoin experienced a decline of more than 15% in the last 24 hours.
The trillion-dollar crypto market witnesses yet another notable 24-hour drop of over 6%. Prices of the largest crypto members declining to further lows — Bitcoin (BTC) dropped below $26,500 and Ethereum (ETH) below $1,700 — drew major attention. Amid this downtrend, Ripple’s XRP and Litecoin (LTC) recorded maximum double-digit losses in the last 24 hours.
Since July, these two cryptocurrencies sustained their trending spot on the headlines with their prominent events Litecoin halving and XRP’s legal victory against the SEC. With a sudden decline, XRP and LTC have led the crypto losers in the last 24 hours.
XRP, LTC as Top Crypto Losers in 24H (Source: CoinMarketCap)
On August 17, the cryptocurrency XRP hit a 4-month low of $0.4226 and became the second top loser of the day with a decline of over 17.30%. On the other hand, Litecoin reached a 9-month low of $61.76, with a decline of more than 15% in the last 24 hours. Moreover, the downtrend is expected to continue in the upcoming days as the cryptocurrencies clearly show bearish momentum.
XRP Marks Its New 4-Month-Low
XRP Daily Price Chart (Source: TradingView)
At the time of writing, the trading price of XRP is $0.4918, with a decline of over 17% in the last 24 hours. However, the trading volume of XRP has experienced a massive surge of 71.18%.
Litecoin (LTC) Touches Down 8-Month-Low
Litecoin (LTC) Daily Price Chart (Source: TradingView)
At press time, Litecoin is trading at $64.14, with a decline of over 15% in the last 24 hours. The daily trading volume of LTC has experienced an increase of 25.97%, according to CoinMarketCap.
Adding to that, the top cryptocurrencies in the crypto market have experienced the same pattern in the last 24 hours. The sudden downtrend in the crypto market comes after the Chinese property giant Evergrande Group filed for bankruptcy protection in the U.S. as it seeks to restructure its $300 billion debt.
The world’s largest cryptocurrency, Bitcoin (BTC), has fallen below the $27K mark with a decline of around 7%. Polygon (MATIC) hit a new low this year reaching $0.5464. Moreover, popular cryptocurrencies, including Ethereum (ETH), Shiba Inu (SHIB), Dogecoin (DOGE), Solana (SOL), and Cardano (ADA), are experiencing bearish momentum. Will the crypto market break the bearish momentum? Share your thoughts by tweeting us at @The_NewsCrypto
