XRP joins Bitcoin and Ether in freefall – crypto movers and shakers

Ripple’s XRP coin has shed 14% of its value in 24 hours, joining the other majors in their prolonged fall.

At the time of writing (7am), XRP is at $1.35 and has lost 14% of its value in a week, but remains where it was on Friday.

Bitcoin (BTC) was down 11% in 24 hours to drop under $43,000. On Friday morning it was just under $50,000 and it has lost almost a third of its value in a week.

The continued fall has been blamed on a tweet from Tesla entrepreneur Elon Musk. He said the electric car company, which began accepting bitcoin as payment for cars in March – driving a 20% increase in the cryptocurrency’s value – has decided to drop the currency over environmental concerns over the amount of energy required to mine bitcoin.

Tesla is continuing to hold its $1.5 billion of bitcoin and will use the digital currency when mining transitions are moved to more sustainable energy sources.

Dogecoin (DOGE) fell back almost 10% in 24 hours to 48 cents.

Musk also tweeted late last week that he was “working with Doge devs to improve system transaction efficiency. Potentially promising” – causing DOGE to rise to 53 cents by Friday morning.

The coin, created as a joke and based on a meme, is up 7% on its position seven days ago.

Ethereum (ETH), which is usually viewed as a more stable coin, nosedived 11% to $3,382 and has lost 18% of its value in a week.

Litecoin (LTC) is down 9% in value in 24 hours to around $282. The altcoin – billed a lighter and faster version of Bitcoin – is worth 30% less than a week ago.

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The biggest climbers were Revain (REV), up 22% and worth double its price last Monday; and Celo (CELO), up 8% to $5.04 but down 6% in a week. Barely any other coins gained value in the 24-hour period.

A whole host of coins dropped between 12-18% value, tied to the Bitcoin fall.

To see how the valuations of the biggest movers and shakers – and main coins – have changed over the last few days, click here.

For up-to-the-minute valuations of the top 100 coins by market cap, and the one-hour price change, see below. 

To see the Crypto Rich List, the world’s richest people in cryptocurrency, scroll down to the bottom of the page.

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