Litecoin dropped below $100 as traders expect further decline. Bitcoin fell to $85,000 with uncertainty regarding U.S. trade policies. XRP remains steady at over $2.55 despite significant profit-taking. Investors should proceed with caution as market conditions evolve.

On March 7th, cryptocurrency markets exhibited notable shifts, particularly impacting Litecoin, Bitcoin, and Ripple. Litecoin’s price plummeted below $100, marking a 22% loss over the week amidst updates on U.S. trade tariffs and the impending White House Crypto Summit. Consequently, traders are increasing short leverage positions, which indicates potential further declines for Litecoin.

In Bitcoin news, the cryptocurrency saw a 5% decrease, landing at $85,000 amid anxiety regarding U.S. trade policies and upcoming Non-Farm Payrolls data. Despite the current volatility, the recent announcement of a Bitcoin Strategic Reserve by David Sacks, an advisor to President Trump, could ignite future price increases.

Ripple’s XRP stood firm above $2.55, showcasing resilience even after investors realized substantial profits totaling $2 billion throughout the early week. There was a notable distribution of XRP among investors following its recent gains, with over $700 million booked in profits in a single day, enhancing overall realized profits since the week began.

Overall, the cryptocurrency market displayed fluctuations with Litecoin facing significant declines while Bitcoin exhibited volatility related to policy changes. Meanwhile, Ripple managed to maintain stability despite the profit-taking activities of its investors. Stakeholders are advised to remain cautious and conduct thorough research, as market conditions continue to evolve in the lead-up to the White House Crypto Summit and beyond.

Original Source: www.fxstreet.com

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