Ripple rises by about 3% as Bitcoin surrenders early gains

Most of the cryptocurrencies rallied during today as Ripple rebounded while Bitcoin lost its upward trend and fell below $10,000 mark.

Despite the gains, the cryptocurrency market was under pressure from investors shift to US equity markets and dollar.

Whilst Bitcoin and its sisters have been subjected to intense sell-off recently due to worries about the cryptocurrency that Facebook intends to offer.

The market was boosted by the announcement of the Facebook currency, but after officials revealed their fears of it being exploited for illegal activities such as financing terrorism, money laundering and drug trafficking, the cryptocurrencies were hit by heavy sell-off, to losing their highest level since January 2018.

In terms of trade, Ripple rose by 3% to $0.32 at 20:59 GMT, with the highest at $0.33 and the lowest at $0.31.

Bitcoin fell by 0.3% to $9846, and recorded the highest price at $9955.8 and the lowest price at $9645.3.