XRP Has Lost 17% of Its value within Last Week. What to do?
Bitcoin was trading at $ 49,000 during the testify of the crypto company CEOs in the US senate room. But shortly after some days, BTC fell to $ 48,000 which is 2.71% lower than the previous price of $50,100 and the crypto market stood at $ 910 Billion market cap total according to data from coin market cap. From the technical chart of the BTC, it can be seen that the next support is at $ 43,000 and $ 40,000. US federal exchange announced to take rapid action on implementing tapering process due to the rising of the inflation rate. This is resulting in fear among investors of both wall street and crypto markets.
Ethereum (ETH) also fell from $4,400 to $4,036 as of now 5.57% and Dogecoin is trading at 5.07% lower $0.1,622, digital Stellar (XLM) fell 6% which is trading around 0.2372. XRP also fell 1.42% to $0.8,233 and Uniswap also fell to $15.88. This week major cryptocurrencies are in red. Investors are looking forward to the Federal reserve decisions on crypto regulations and tapering activities.
Mostly the crypto market was reacting to the series of tweets from Tesla CEO Elon Musk, Ark Investor LLC’s Cathie wood, Tweeter ex-CEO. Tesla CEO tweeted that they may accept digital asset BTC payment most likely from August. This was the reason the cryptocurrency market stood at a good market value after the fall of May.
Tesla company CEO Elon Musk had shortly denied crypto acceptance in exchange for the electric car purchase.