XRP’s Momentum Fizzling Out As Its Price Plunges By 18 Percent In One Day

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Tue, 09/25/2018 - 13:40
Alex Dovbnya
After a massive rally that resulted in dethroning Ethereum for a couple of hours, XRP price is currently plunging with more than an 18% decrease over the last 24 hours
Cover image via U.Today

After a massive rally that resulted in dethroning Ethereum for a couple of hours, XRP price is currently plunging with more than an 18 percent decrease over the last 24 hours. At press time, the price of the third biggest cryptocurrency is at $0.44. On Friday, the currency spiked to $0.69, which provoked much speculation that Ripple’s momentum could propel XRP price up to $1. However, it didn’t happen.

Obviously, the fact that XRP price is currently tanking has taken a toll on its market capitalization. In merely three days, XRP’s market cap dropped by a whopping $9 bln, currently sitting at $17.7 bln. However, Ethereum holders can rejoice since it seems very likely that XRP will not overtake ETH again anytime soon.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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