XRP falls after CLARITY Act rejection, Zcash, Monero and Dash recover

There is nothing new under the sun. Tonight, it was XRP that footed the bill for Washington’s legislative fiasco. But the real story of the day is playing out elsewhere, with a handful of cryptocurrencies that have existed for years and that we ended up forgetting. Zcash is blowing after a historic peak, Monero and Dash continue to catch up, and even Litecoin is recovering. The market has a short memory, except when it pays off big.

XRP absorbs the shock of the CLARITY Act

XRP remains, of all the major altcoins, the one that shakes the hardest with each American regulatory upheaval. On Tuesday, the price of the token reached a daily high around $1.46-$1.49 before plunging to around $1.265 following the rejection of the closure in the Senate. This is a decline of around 10 to 13% from the high of the day. This Wednesday morning, XRP is still stagnating near this low point, around 1.28-1.30. No clear rebound yet, the night has left its mark.

Last week, XRP was moving between 1.33 and 1.45 dollars. The fall is therefore not a surprise for those who have been following the issue since the beginning of the summer: Ripple remains the altcoin most correlated to the Washington calendar, for better and for worse. And this morning, it’s clearly for the worse.

Zcash blows, Monero and Dash take over

After weeks of almost uninterrupted rise, Zcash marks a pause more than a fall. The privacy token (the use of zero-knowledge proofs, or zk-SNARKs, which hides the amounts and addresses of transactions) is moving this morning around $1,110-1,150, barely 2% below its record for the week at $1,249. Nothing alarming: after a rally of this magnitude, breathing was almost expected.

What is less obvious is the speed with which the baton has been taken over by its cousins ​​since mid-September. Monero has doubled since January and just broke an eight-month-old downtrend line.

Dash, for its part, has climbed around 85% over the same recent period, not overnight. Traders who missed the Zcash train are jumping on what hasn't moved yet. A classic catch-up effect: once a sector captures attention, money goes looking for the next forgotten nugget.

Litecoin discreetly invites itself to the party

Far from the noise of anonymous cryptos, Litecoin is also making waves. LTC is moving around 53 dollars this Wednesday, one of the best scores among first generation cryptos over the last 24 hours (figure to be added during the day). Nothing spectacular next to Zcash, but enough of a movement to remind us that the 2011 veteran has not completely disappeared from the radar.

Dogecoin, for its part, remains wisely in its corner around $0.08. BNB hardly moves, between 715 and 720 dollars. Two market heavyweights, two uneventful days, while cryptos that we thought were asleep make the news.