The crypto market is in the red this morning, after ending last week on a high note. Ripple (XRP) passed ETH for a few hours on Friday during its bull run, which in turn boosted the entire market. Stellar (XLM) and Litecoin (LTC) saw monumental gains, but now, the crypto market is red across the board.
Let’s take a closer look at these three cryptocurrencies and their latest movements.
Ripple Labs has had some big news lately, which has boosted the price of XRP. Ripple and XRP are often confused with one another and seen as the same. This is not the case at all. Ripple is a technology company that has created Ripple’s tech. XRP is a cryptocurrency, independent of the company, that is used on Ripple’s platforms. Ripple owns a majority of XRP though.
Back on the 18th of September, an executive at Ripple spoke to CNBC and told them xRapid, Ripple’s XRP cross-border payment platform would be launching soon, and good news would be released shortly. XRP saw gains above 20% that day.
That news continued to push XRP up, and this week the coin saw a spike of over 180%. Now, the cryptocurrency has corrected and is in the red this morning. At press time, XRP is trading at $0.523 a coin, down -7.17% in 24 hours.
Stellar is known as Ripple’s ‘little brother’ as both companies were founded by Jed McCaleb and their platforms are almost identical. What makes them stand apart is their target audience. Ripple is geared more towards the financial institutions, and Stellar wants to target everyone.
The Stellar Foundation also received big news this month. The for-profit subsidiary of Stellar, named Lightyear, purchased Chain, which is backed by Visa. Lightyear and Chain are now going to be retired and will form ‘Interstellar.’
This is huge news for the company, as Interstellar will be responsible for managing StellarX. StellarX is the free asset trading service that has been created on Stellar and is set to debut in a few weeks.
At press time, XLM is trading at $0.26 a coin, down -5.75%.
The Litecoin Foundation recently held its first Litecoin Summit in San Francisco two weekends ago. The Foundation also held a live stream, for those unable to attend. On Sept 19th, Litecoin released its Litecoin Core v0.16.3.
Litecoin Core v0.16.3 has been released which includes a very important security fix for a DoS vulnerability, CVE-2018-17144! All users are advised to upgrade as soon as possible. https://t.co/6wyNEdiNFP
— Litecoin Project (@LitecoinProject) September 20, 2018
This new update fixed its DoS vulnerability. On Friday, the Canadian crypto exchange, Coinut, announced Canadians are now able to buy LTC with CAD on the exchange.
LTC saw price spikes at the end of last week after most of the cryptocurrency market was on a bull run. At press time, LTC is trading at $58.80 a coin, down -3.35% in 24 hours.
Ripple (XRP), Stellar (XLM), and Litecoin (LTC) have all had big news lately and have the potential to rebound. But will they?
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