The price of XRP slid below $0.43 on Friday, hitting a new low for 2018.
The world's third-largest cryptocurrency by market capitalization fell to $0.424 at 13:00 UTC, surpassing the prior low of $0.438 seen just five days ago on the Bitfinex exchange.
XRP has not recorded a daily close below $0.42 since December 12th, 2017.
As of press time, the figure has risen above the low, back to averaging a price of $0.43 according to the CoinDesk XRP Price Index.
Current prices reflect a 24-hour drop of 3.5 percent and a 14 percent decline week-to-week.
Market bears will look to strengthen their grip if the current level of $0.43 cannot hold as XRP is not accompanied by any neighboring technical support.
XRP is not the lone cryptocurrency to set an annual low today as it is joined by the likes of OmiseGo, NEO, Litecoin, and Zcash.
The worlds leading cryptocurrency, bitcoin, came just $14 shy of breaking its annual low of $5786 earlier this morning, BPI data further indicates.
The broader market is taking a beating.
The total cryptocurrency market capitalization has hit $232 billion - its lowest mark since November of 2017 and a 72 percent depreciation from all-time high just under $830 billion, according to CoinMarketCap.
Below $0.50: XRP Prices Fall to New 2018 Lows
Udgivet den Jun 29, 2018
by Coindesk | Udgivet den Coinage
Coinage
Nævnt i denne artikel
Seneste nyheder
Se alt
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.