XRP falls to lows of $0.25 cents in the past week, feeling the brunt of a tough week, an even tougher month, and a horrible year.
Until two weeks ago, $0.26 had been a strong measure of resistance, with the coin bouncing upwards whenever it hit this level. But last week it broke through this level, and has fallen to yearly lows.
The last time XRP was this cheap was in December, 2017, before the bull run that saw its value skyrocket to $3.74. But anyone who bought at those levels, is now 93% in the red.
XRP’s market cap is down, too: it’s sunk to $10.8 billion, less than a tenth of its all-time high.
Most cryptocurrencies saw a drop today. Bitcoin fell 3.8% last night—around $600—to $10,290. Ethereum felt last night’s chill too, and prices dropped 2.4% from highs of $178 to $168.
Have investors been spooked by the transfer of $1 billion worth of Bitcoin yesterday, rumored to be linked to the launch of Bakkt Warehouse? Watch this space.