The intense decline of the cryptomarket finally affects the most effective digital assets of the month.
Ripple (XRP) has become the second most valuable cryptocurrency on the market. Over the past 30 days, XRP has maintained a $ 0.5 level with minimized losses, even when the price of BTC and other major cryptocurrencies dropped by about 10-20 percent.
This week, XRP, worth about $ 16 million, was transferred from a Ripple Distribution wallet to an unknown wallet by introducing more XRP to the market.
If the supply of assets increases artificially, and the demand of investors on the market remains unchanged, it will negatively affect the value of the asset on public markets.
Over the past 12 hours, the price of XRP has fallen from $ 0.48 to $ 0.41 per day low. The XRP has recovered from $ 0.41 to $ 0.43, recording a daily loss of a dollar approximately 10 percent.
Editor: Yuliya Soroka