THE Ripple price plunged over the weekend leaving XRP billions of dollars less valuable than this time on Saturday. But why is the price of Ripple going down?
Ripple’s XRP cryptocurrency has fallen on Sunday by more than 11 percent from its high of $2.12 on Saturday and more than 51 percent from its all time high of $3.84.
Ripple opened at £1.35 ($1.86) today (January 15) and has further slipped to £1.31 ($1.80).
The digital currency briefly claimed second place in the crypto charts earlier this week, boasting a market capitalisation of more than £90billion ($123billion).
But a difficult few days has seen Ripple’s market cap plummet to less than £52billion ($72billion) on Monday. Ethereum has now overtaken as the second biggest cryptocurrency, pushing XRP back to third place.
The CoinMarketCap currency tracker below shows the latest XRP price in real time.
Ripple logoGETTY / RIPPLE
Ripple price: XRP has lost more than 50 percent since peaking at $3.84