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The third cryptocurrency in the world by market capitalization, XRP, fell to the lowest price of 2018 on Tuesday.
At 00:01 UTC, just after Monday's closing, the cryptocurrency dropped to $ 0.27 cents for the first time since December 12, 2017, according to CoinDesk pricing data. The XRP was seen for the last time at $.2705, marking a decline of 2.95 percent from the day of opening.
At the time of printing, XRP is one of the biggest losers in the top 10 cryptocurrencies by market capitalization and is reporting a 7-day loss of 36%, according to CoinMarketCap data. Its individual market capitalization declined by over $ 5.4 billion during that period.
Ripple has now effectively erased most of the gains seen during last year's bull run and is down 92% from its record high of $ 3.75. According to CoinDesk pricing data, XRP was trading at 0.16 dollars cents exactly one year ago, leaving some to speculate a further price drop.
The cryptocurrency is part of a number of networks to see the values falling during the Monday session. The well-known crypts including ether, bitcoin cash and Cardano have seen losses of 24 hours above 7-12 percent.
The total market capitalization of all cryptocurrencies is dropping nearly $ 14 billion compared to $ 214.4 billion of its yesterday and is now just over $ 200 billion, show CoinMarketCap data.
Revelation: The author holds USDT at the time of writing.
Image via Shutterstock
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