Ripple's XRP cryptocurrency is plunging



  • Ripple’s XRP, the third largest cryptocurrency by market cap, slumped as much as 20% Monday morning as all three of the world’s largest digital tokens came under pressure.
  • XRP is currently trading at $US2.32, according to data from Markets Insider, and has a market cap of $US90 billion, according to coinmarketcap.com.
  • The token is now down 38% from its all-time high, set earlier this month.
  • Ripplehas been in the headlines a bunch over the past week thanks to the meteoric rise of XRP, which has made multi-millionaires out of those lucky enough to hold massive amounts, like Ripple co-founder Chris Larsen.
  • Ethereum, which has leap frogged XRP for the number two slot by market cap, has also fallen by 5% Monday after hitting fresh highs earlier in the day.
  • Bitcoin, far and away the largest cryptocurrency, was down 10%.

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