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Home Markets Cryptos

Ripple suffers highest day percentage loss since September 3

Olumide Adesina by Olumide Adesina
November 25, 2020
in Cryptos
Crypto owners robbed of 1,150,000 XRP, Ripple owners say XRP will be worth $100, XRP losing steam as BTC & ETH gain investors' funds
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In line with the law of gravity, what goes up must come down at one point in time. Ripple the third most valuable crypto by market value has suffered its largest one-day percentage loss since September 3.

READ: How BTC Whales can push BTC market value to $1 trillion

  • Ripple’s crypto-asset, XRP was trading at $0.62215 by 00:01 (05:01 GMT), down 10.29% on the day.
  • The move downwards pushed XRP’s market cap down to $28.6 Billion or 5.08% of the total cryptocurrency market cap.
  • At its highest point in 2017, XRP’s market capitalization was $31.58 Billion.
  • XRP had traded in a range of $0.62057 to $0.70711 in the previous twenty-four hours

READ: Ripple lets go 1,000,000,000 XRP valued at $240 million

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That said, the bullish run presently in play is largely attributed to Ripple’s most recent earning reports, disclosing it purchased a large quantity of XRP coin worth $45.5 million in Q3 2020, as part of its efforts to support the crypto market.

READ: NASD OTC market capitalization hits N538.12 billion, as investors gain N9.22 billion

What you should know

Ripple’s XRP is often tagged as the “remittance network” and currency exchange that independent servers authenticate. The currency traded is known as XRP and transfer times are super fast.

Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that was created to allow quick and cheap transactions.

READ: 5 Nigerian companies with a combined market value of 5% of Nigeria’s GDP 


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Tags: Business NewsCryptocurrencyCryptocurrency NewsRippleXRP
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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Comments 3

  1. Jossy Okpeh says:
    November 25, 2020 at 8:37 am

    I wanna join forex/crypto trading. My name’s Jossy Okpeh. Pls I’m highly interested. I wanna be a professional. I love crypto market.

    Reply
  2. Dominic Onwuasoeze says:
    November 26, 2020 at 4:13 pm

    Dear adesina, will ripple still rise again this year

    Reply
  3. Dominic Onwuasoeze says:
    November 26, 2020 at 4:15 pm

    I currently have ripple currency, I bought it shortly before it started falling……I want to know….should I sell it in loss or keep it

    Reply

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