Despite the high volume of the crypto market, the major digital currencies including Bitcoin, Ripple, Bitcoin Cash, Ethereum and EOS have recorded heavy losses compared to the US dollar.
While Bitcoin showed a slight decline of 1%, the third, fourth and fifth largest cryptocurrencies in the global market Ripple, Bitcoin Cash and EOS, today 6 July lost 6% of their value against the US dollar.
Because of the legal actions taken against Ripple Labs, the XRP token is struggling to increase in value, many investors are worried and at the moment it is risky to invest in XRP, at least until there is no clearer news on the outcome of the events. Today XRP loses 4 percent in the first part of the trading session.
It should also be noted that the price of Bitcoin has not managed to exceed the resistance levels between 6,700 and 6,800 dollars and this suggests that at the moment the bullish force has eased, the market could therefore now suffer a devaluation in the short term, the positive signals will come if the levels of resistance that would push prices into the 7,000 area were exceeded, hypothesis at the moment less probable considering also the technical indicators and the latest not particularly positive news.