This afternoon we have monitored the progression of the cryptocurrency markets. The main motivation for this is simple that, overall, the markets seem to be in a static position. Overall, this is weighted slightly towards the negative end of the scale, but overall, the declines are minimal at the moment. Therefore, as a result of this, we believe the markets are on the verge of changing direction. We can’t tell if they are going to move up or down, but in essence, things are a bit too calm for us at the moment.
So, with this in mind, Ripple XRP seemed to be the first currency to break away from the negative trend, now, at the time of writing, Ripple XRP seems to be the first cryptocurrency making gains off its own back, away from the general negative trend. Hopefully, soon enough we will see the rest of the markets follow suit. Of course, by the time you read this… that might have actually happened.
Just to note, this isn’t the start of a surge or a bull run, this is just organic market maturity, although we believe it is important to document it, to ensure your research is as rich as it can be.
At the time of writing, Bitcoin is valued at $7,447.54, down 1.31%. Bitcoin is still teetering around that $7,500.00 mark, which is of course a good thing.
At the time of writing, Ethereum is valued at $591.32, down 1.03% but up on recent values. Ethereum looks as if it will climb back past $600.00 through this afternoon, therefore, once you read this, hopefully we are seeing Ethereum valued past this mark.
As mentioned, at the time of writing, Ripple XRP is up. Valued at $0.66 and up 1.30%, the rise of Ripple seems to be followed by the slowing of the overall negative trajectory pressurising the market at the moment. Of course, this is a rare instance but it looks as if Ripple XRP is starting to lead the way here. We can’t assess the full scale of this just yet, therefore, we’ll have to see how Ripple XRP stands in a few hours time.
Overall, negativity still reigns, but, the markets are starting to level off. As previously mentioned, this is not the start of a bull run, nor does this mean the markets are recovering, it does however prove that the markets aren’t crashing and that the downward movements we see at the moment, really are nothing to worry about. Hopefully, at the very least, this provides you with adequate reassurance. In essence, everything is okay, for now!