The attached overview from Coin360 illustrates the once again weak development of the crypto market over the past 7 days. The total crypto market cap fell again and it currently stands at $943 billion and now counts more than 21,000 coins.
Bitcoin’s market dominance notes 38.3%. Bitcoin’s market cap dropped to $371.5 billion. Ethereum’s (ETH) market dominance declined further to 17.3%, while Ethereum’s market cap fell slightly to $162.6 billion.
XRP rises 40% in pressured crypto market
XRP, Ripple’s crypto currency, skyrocketed more than 41% in the past week. Investors have become more hopeful that Ripple Labs, which is in litigation with the U.S. regulator SEC, will file the lawsuit.
According to attorney James K. Filan, Ripple Labs filed a motion for a so-called summary judgment ruling on Sept. 18. This is a legal process in which the court makes a final decision based on the facts provided, rather than filing a lawsuit.
A decision on whether XRP is a security is expected to follow in mid-December. XRP now ranks No. 6 on Coinmarketcap and has a market cap of $4.8 billion.
Clearly, as a white raven, XRP cannot single-handedly pull up the crypto market. Nevertheless, it is positive that there is at least a green shoot like XRP.