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XRP, Litecoin [LTC], Cardano [ADA] head underground after the awaited bull run

Priyamvada Singh

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XRP, Litecoin [LTC], Cardano [ADA] head underground after the awaited bull run
Source: Pixabay

The current state of the cryptocurrency market is such that most of the big coins under top-10 are returning to the bearish zone after a successful rally. On 8th November, XRP plunged by 3.65% whereas Litecoin [LTC] and Cardano [ADA] plummeted by 3.58% each.

During the day, XRP was maintaining standard at a trading price of $0.53 [approx.] with a market cap above $21 billion. The coin started dropping and crashed to $0.5 within the span of an hour with a market cap dropped below $20.5 billion.

XRP 1d price chart | Source: coinmarketcap

XRP 1d price chart | Source: coinmarketcap

At the time of writing, XRP was trading at $0.51 with a market cap of $20.66 billion. The 24-hour trading volume was recorded at $658.7 million.

As of Litecoin [LTC], the coin was earlier trading as high as $55.8 with a market cap of $3.29 billion. However, the coin soon came crashing down to $53.1 where its market cap was recorded to be $3.13 billion. Despite the fall, LTC has maintained trading above the level of its week’s bottom, which is around $49.89 with a market cap equivalent to $2.79 billion. Therefore, during the week, LTC managed to bring an add-on of about $500 million to the table.

LTC 1d price chart | Source: coinmarketcap

LTC 1d price chart | Source: coinmarketcap

At the time of writing, Litecoin was trading at $53.37 with a market cap of $3.15 billion. The 24-hour trading volume was observed at $341 million.



In the ADA market, the trading price went as high as $0.08 across the day where its market cap was $2 billion. With multiple downturns occurring at $0.078, ADA plunged further below as the day proceeded. Finally, the token fell to its knees to trade at a depreciated price of $0.076 with the market cap of $1.97 billion. This is a wipeout of a million dollar in a day from the ADA chart.

ADA 1d price chart | Source: coinmarketcap

ADA 1d price chart | Source: coinmarketcap

Except for the stable coin, Tether [USDT], all the other coins under top-20 are suffering from depression. From Ethereum [ETH] to Tron [TRX], the coins are facing a downhill run in the wake of the bear.





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

XRP

Ripple: SCB Thailand asks crypto-enthusiasts to wait for announcement regarding XRP adoption

Namrata Shukla

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SCB Thailand asks crypto enthusiasts to wait for announcement regarding XRP adoption
Source: Pixabay

The nascent field of cryptocurrencies has been seeking major mainstream adoption, especially from financial institutions. Ripple, the native company of the third largest cryptocurrency, managed to promote its services and would provide payment services to the oldest Thai bank, Siam Commercial Bank [SCB].

The bank however, has not confirmed whether it would be making use of XRP. The Bank had informed its approach towards blockchain technology in various industries and the XRP community rejoiced after rumours of XRP adoption surfaced. However, when a Twitter user asked about the bank using XRP, SCB replied,

“We will be using Blockchain Technology for ripple but as for XRP, you may have to wait for further announcement.”

However, another Twitter user, @_bjb, jumped the gun when he saw the following on SCB,



The user then shared that when he went to use the service, he was informed that the service will be available soon. SCB Thailand apologized for the inconvenience through a tweet and informed all users,

“The information about ripple transfer will be announced soon, we are sorry for the inconvenience.”

The bank also stated that at the moment, it was using Ria Ripple transfer for banks in Japan and that users and crypto-enthusiasts will have to wait for an official announcement.





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