XRP Ledger transactions dropped to nearly a sixth of their value this year
Ripple (XRP) trades at $0.5833 on Monday as the altcoin extends gains and recovers from the crypto market crash in early August. The Ripple stablecoin announcement, the Securities & Exchange Commission (SEC) vs. Ripple lawsuit ruling and recent research reports published by SBI-owned HashHub are the key market movers for the altcoin this week.
Ethereum is down over 3% on Monday after posting weak flows across ETH ETFs and record lows in gas fees last week. The decline also coincides with ETH attempting to repeat a historical price move that it experienced in the last two years.
Bitcoin (BTC) trades around $58,000 on Monday, down 0.7% on the day and extending the consolidation phase between $57,000 and $62,000 seen in the past ten days. From a technical perspective, the bearish thesis still prevails as BTC struggles to overcome key resistance levels and momentum indicators look weak. Still, investors’ behavior and data about miners’ recent activity suggest a decline in selling pressure, providing some support to the main crypto asset.
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