The price of Ripple has increased a whopping 1,385% over the past month. It’s now the number-three cryptocurrency with a market capitalization of more than $100 billion and a trading volume of $2.5 billion. With a sudden rise in the price of Ripple, there could be a chance of a downward reversion in price in the short term. However, the longer-term outlook for the cryptocurrency remains good.
Dogecoin, another small cryptocurrency, was created as a parody after a popular Internet meme saw its market capitalization pass $2 billion on Sunday, January 7, 2018. According to CoinMarketCap, Dogecoin traded as high as $0.018773, and its market capitalization was $2.1 billion. As of Monday, January 8, 2018, there were 43 cryptocurrencies with a market capitalization of more than $1 billion.
There is also a visible uptrend in the price of Ethereum. It was trading at $1,143.20 in the early morning hours of January 8, 2018. It likely has a support level of $990.
Bitcoin Gold (ARKW), which is now below other cryptocurrencies in market capitalization is trading at $236.70, and its market capitalization is a little shy of $4 billion. It has fallen almost 25% over the past 24 hours. Its price should move above the $270 and $290 resistance levels in order to return to the bullish zone, and it may find support around the $210 level.
Among the top gainers over the past 24 hours are Dentacoin, rising 74.1%; Neblio, rising 40.9%; DeepBrain Chain, rising 32.1%; and ICON, rising 25.3%.