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The price of XRP, the third-largest cryptocurrency by market cap, has collapsed by roughly 14% over the past 24 hours, according to CoinGecko data.
The Ripple-linked cryptocurrency plunged to $2.58 earlier today, reaching its lowest level since Jan. 14.
Analyst Timothy Sykes says that crypto markets are down since they are open during the weekend due to the ongoing current trade tensions. He expects the leading US stock market indexes to "get wrecked" as well on Monday.
Alex DovbnyaAccording to Sykes, the "trade tensions" are terrible for business and the economy.
DonAlt, a prominent pseudonymous cryptocurrency trader, has suggested that the crypto market could experience another round of selling on Monday.
Bitcoin (BTC) is currently down more than 4%, holding up better than other major currencies.
Dogecoin (DOGE) is the worst-performing cryptocurrency in the top 10, plunging by nearly 15%.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Dan Burgin
Vladislav Sopov