Market Update - XRP, BCH And EOS Take A Hit
The markets have taken on a negative swing this morning, no doubt as a result of some correction from the past few days of vague positivity that the markets have experienced. We are certain now that this current phase of up and down is as a result of a volatile market from correction and through general uncertainty and that todayâs drops are only an organic product of this. Therefore, the following really is nothing to worry about.
Times like this however do prove how volatile the markets are and show just how careful we need to be as investors. Prices can shake in a matter of minutes and the direction of your investment can change as a result. Just as things go up, they also come down. We suggest using this period of uncertainty to hold on to your investments and do some further research to ensure that when things do change, youâre ready and prepared for it.
At the time of writing, Ripple XRP is valued at $0.46, down 5.63%. XRP moved up to $0.50 during the week, giving some investors a reason to get excited. Overall though, the current trend is pulling XRP back down towards $0.45. Realistically, we shouldnât stoop past this point, however if the markets continue to swing downwards through the weekend, we might well start next week sub $0.45.
Likewise, at the time of writing, Bitcoin Cash is valued at $711.63, down 6.70%. Bitcoin Cash is dangerously close to $700.00, and the current negative trend is promising to push us below that point. There is some positivity in this. Bitcoin Cash is still valued way above the 10% of Bitcoin threshold and as a result, Bitcoin Cash is still paving its own trajectory and isnât (totally) being dragged down by Bitcoin, though as we know Bitcoin does have a strong impression overall on how the rest of the markets perform.
EOS, at the time of writing is valued at $8.32, down 7.20%. EOS is taking a big hit at the moment, though for the past few days we have seen EOS reach higher percentage changes over a 24 hour period. This is no doubt because EOS is very undervalued at the moment. It is trying so hard to get back to $15.00, yet the current market causing EOS plenty of problems on the way.
For the rest of today, we will watch the markets in order to guess how they will perform over the rest of the weekend. We do think this weekend could be a very important one for mapping out exactly what sort of performance we will see by the markets going on through the latter stages of July.