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Ripple’s XRP loses half its value in less than a week

Ripple’s XRP cryptocurrency is down roughly 10% Wednesday morning as it continues to slide downward — bottoming out at $1.62 per coin, less than half its value a week ago.

The negative spiral began on Monday, when popular data site CoinMarketCap opted to exclude prices from South Korean cryptocurrency exchanges from its data, causing the prices to show dramatic drops on its site.

This “likely triggered some panic selling,” Ripple’s chief cryptographer David Schwartz said, further dragging down the price. The move by CoinMarketCap also affected many other cryptocurrencies, including the flagship bitcoin

XRP had previously seen an astronomical rise from its low of $0.15 in March 2017, gaining some 2000% to reach $3.315 per token on January 4.

The cryptocurrency currently has the third-largest market cap among digital tokens, behind bitcoin and Ethereum, with a total value of $75.58 billion, according to OnChainFX, a site that many traders have switched.

Thanks to http://markets.businessinsider.com for providing such a post

Ripple’s XRP loses half its value in less than a week
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Cryptocurrency is a form of digital money that is designed to be secure and, in many cases, anonymous. It is a currency associated with the internet that uses cryptography, the process of converting legible information into an almost uncrackable code, to track purchases and transfers.

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