Following the news, the price declined rapidly down to $6,500 where it is now holding firm.
XRP (XRP) traded 8.9% lower against the dollar and now trades at $0.38 or 0.00005661 BTC. So it tells us that the news we have seen, from the SEC saying that Bitcoin is a commodity, to ICE's announcement and a potential for a (Bitcoin) ETF, are causing investors to decide that Bitcoin is the best house in a tough neighborhood. The rest of the movements within the next few days will depend on whether or not BTC has a powerful enough under current to propel itself up and over $6 400. BTC is seeing a daily loss of around 8 percent today but the coin's market dominance among all 1600+ currencies is 49 percent.
VeChain (VET) traded up 4.8% against the dollar and now trades at $0.0140 or 0.00000198 BTC.
Failure to break back through to $0.34 levels would likely see Ripple's XRP slide through the day's first major support level at $0.3278 to bring sub-$0.32 levels into play before any recovery, Ripple's XRP expected to continue to hold on to $0.30 levels through the day. The BTC/USD combine declined and broke the $7,500 and $7,260 support levels to move into a bearish zone. Order books show heavy resistance from the current vantage point up until $6750 if bulls can manage to climb that high.
Since the news of the SEC's delay in taking a decision broke, the cryptocurrency market's capitalization has dropped by nearly 11%.
Ethereum Classic is becoming a trending cryptocurrency after Coinbase launched ETC trading on Coinbase PRIME and PRO platforms recently. The price per one MIOTA stood at United States dollars 0.70. BCH is seeing a daily loss of around 14.2 percent and is the fourth highest market valuation among every coin in existence.
In the last 11 days, the cryptocurrency market has seen 10 days of declines. Now the 100MA and 200MA gap is much smaller on the BCH/USD 4-hour chart and it looks like the two may cross hairs soon.
Looking at the 4-hours chart, the price settled below the $6,815 support area and the 21 simple moving average (4-hours). Most altcoins have also posted significant price dips today as well. That pearl of wisdom is that things are always going to change, today we delve into recent movements of Bitcoin, Ethereum and Ripple as well as analysts' predictions for their short term fluctuations.