Although the Bitcoin momentum has turned out to be a lot more bearish than expected, there is still some degree of optimism among traders. Fans of the XRP price will be less happy right now, as their favorite currency has noted rather steep losses. Nothing that can’t be overcome with some effort, but it shows how much Ripple’ asset relies on Bitcoin.
All cryptocurrency markets will follow Bitcoin’s momentum, either for better or worse. Today, it is evident the bearish pressure has gotten to all markets in quick succession, which paints a rather bleak picture. Nothing seems to indicate these losses will remain in place very long, but turning the ship around will not be easy either under these circumstances.