XRP fell sharply today, suffering greater losses than other major digital currencies and hitting its lowest in more than two years.
The digital token, which is used by the Ripple payment system, reached as little as $0.1826 at roughly 03:00 p.m. EST, CoinMarketCap figures show.
At this point, the digital asset was down more than 12% over the last 24 hours and was trading at its lowest since late 2017, additional CoinMarketCap data reveals.
However, XRP is not the only digital currency that has been suffering losses lately, as 48 of the top 50 cryptocurrencies listed on CoinMarketCap were in the red at the time of this writing.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
“The entire crypto market seems to be in a bit of a slump at the moment,” said Mati Greenspan, founder of the newsletter Quantum Economics.
“The losses in XRP are more likely a reflection of that than anything else at this time,” he stated.