RIPPLE’s XRP cryptocurrency has plunged in value over the past few weeks and is now close to sinking back below little over $0.80. But why is Ripple’s price falling today?
Ripple (XRP) is hovering just above $0.80 this morning (February 2) with its market capitalisation sliding down towards $30billion, according to CoinMarketCap.
This latest crash comes less than a month after the cryptocurrency reached its all time high of $148.5billion, when it was worth about $3.84.
January’s decline came after 12 months of relentless growth for Ripple, in which its price surged more than 35,000 percent from $0.006 at the start of 2017.
The initial collapse, on January 4, was blamed on the South Korean Government, which has repeatedly threatened to ban crypto trading.
Last month, South Korea’s justice ministry said: “The ministry has been preparing a special law to shut down all cryptocurrency exchanges, but we will push for it after careful consideration with related government agencies.”
https://www.express.co.uk/finance/city/913135/Ripple-price-why-XRP-falling-today-crash-value-cryptocurrency-news