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- 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 witnessed another notable 24-hour drop of over 6%. Prices of major cryptocurrencies reached further lows, with Bitcoin (BTC) dropping below $26,500 and Ethereum (ETH) falling below $1,700. Amid this downtrend, Ripple’s XRP and Litecoin (LTC) recorded the highest double-digit losses in the last 24 hours.
Since July, these two cryptocurrencies have remained in the headlines due to significant events, including the Litecoin halving and XRP’s legal victory against the SEC. Following a sudden decline, XRP and LTC have emerged as the top crypto losers over the past day.
XRP, LTC as Top Crypto Losers in 24H (Source: CoinMarketCap)
On August 17, XRP hit a 4-month low of $0.4226, becoming the second-largest loser of the day with a decline of over 17.30%. Meanwhile, Litecoin reached a 9-month low of $61.76, dropping more than 15% in the last 24 hours. The downtrend is expected to continue in the coming days as both cryptocurrencies clearly exhibit bearish momentum.
XRP Marks Its New 4-Month Low
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XRP Daily Price Chart (Source: TradingView)
At the time of writing, XRP was trading at $0.4918, reflecting a decline of over 17% in the last 24 hours. However, XRP’s trading volume surged by 71.18%.
Litecoin (LTC) Touches 8-Month Low
Litecoin (LTC) Daily Price Chart (Source: TradingView)
At press time, Litecoin was trading at $64.14, down more than 15% in the last 24 hours. According to CoinMarketCap, LTC’s daily trading volume increased by 25.97%.
Additionally, top cryptocurrencies in the market followed a similar pattern over the last 24 hours. The sudden downtrend in the crypto market followed news that Chinese property giant Evergrande Group filed for bankruptcy protection in the U.S. to restructure its $300 billion debt.
The world’s largest cryptocurrency, Bitcoin (BTC), fell below the $27,000 mark with a decline of around 7%. Polygon (MATIC) hit a new yearly low of $0.5464. Popular cryptocurrencies including Ethereum (ETH), Shiba Inu (SHIB), Dogecoin (DOGE), Solana (SOL), and Cardano (ADA) are also experiencing bearish momentum. Will the crypto market break this bearish trend? Share your thoughts by tweeting us at @The_NewsCrypto.
