The today cryptocurrencies drop is due to coinmarketcap decision to exclude Korean exchange prices from their page which made the coins appear to drop significantly from what they were yesterday, which also made a lot of investor panic sell their coins.
As you can see below Ripple is still trading in Korean exchanges at much higher price than other exchanges.
Bithumb @ 3.56 USD
Coinone @ 3.71 USD
Korbit @ 3.71 USD
Same goes for Bitcoin and other Alts:
Bithumb @ 21,552 USD
Coinone @ 22, 471 USD
Korbit @ 22, 710 USD
As a long-term investor, there will be many shakeouts on the way up, and let me know what do you think the reason for coinmarketcap to exclude Korean Prices!
Image Source: https://coincodex.com/
Prices: https://coinmarketcap.com/