XRP News: Price Continues to Plunge After Coinrail Hack

xrp news

XRP News – Following the news of the Coinrail hack, the crypto market suffered a major dip. This dip has continued well into the week, with numerous coins plummeting Wednesday. Take, Ripple (XRP), for instance. The cryptocurrency is down nearly 10% in the past twenty-four hours.

In this article, we’re going to be looking at XRP news, as well as noting some recent comments from Brad Garlinghouse, CEO of the company Ripple, about the market.

XRP News | XRP Daily Chart

Ripple (XRP) is currently selling for $0.52. This is a significant drop in price in terms of where XRP was sitting at last week. In the past twenty-four hours, XRP is down 9.05%.

XRP news

Source: CoinMarketCap

Last week, the price of XRP was around $0.67. In 2018, the crypto market as a whole has lost over 50% of its total value. In the last 3 days, Ripple has lost around 10%.

Ripple’s Thoughts on the Crypto Market

So, as many know but few understand, Ripple and XRP are not, contrary to popular belief, the same thing. To put simply: Ripple is a company, and XRP is a digital asset. Now, just because Ripple is a software company, and while Ripple does own a lot of XRP, that doesn’t mean members of the company don’t vocalize their thoughts on the crypto market.

Just recently it was reported that Brad Garlinghouse, CEO of Ripple, said that Bitcoin is controlled by China. This is not the first time Garlinghouse has bashed on Bitcoin, but it is the lastest. Earlier this month, Garlinghouse is quoted as saying BTC “is not the panacea we thought it would be.”

The XRP News Takeaway

What do you think about the performance of XRP this week? How about the comments from Ripple’s CEO about the market? It will be interesting to see where XRP is at at the end of the work week, and how it will be going into weekend trading.

Featured Image: Depositphotos/© BiancoBlue

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