Ripple (XRP) piled losses alongside top altcoins and Bitcoin early on Friday. The German government’s Bitcoin transfers and Mt.Gox payback to creditors have created uncertainty among traders and increased the pressure on Bitcoin and altcoins like XRP. 

Bitcoin Cash has dropped below the weekly support level of $378.6, marking a 20% decline this week. Currently trading around $310, marking a 6% decline on the day. Trustee Nobuaki Kobayashi's announcement of Mt. Gox's repayment plan in early July, coupled with the movement of 47,229 BTC worth $2.71 billion on Friday, indicates market fear, uncertainty and doubt (FUD) that could potentially lead to a decline in BCH prices in the coming days.

Crypto market lost nearly 6% in market capitalization, down to $2.121 trillion. Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) erased recent gains from 2024.