Ripple fall extends to below $0.50

Following on from an earlier update this morning on Ripple (XRPUSD), the price has crumbled even more now. The drop has extended to below $0.50 and the approximate low reached so far has been set at around $0.4775. However, and as noted in the previous update on ETHUSD, the exact pricing may vary according to venue, due to the speed of some of the moves. The drop to that approximate low means that Ripple has suffered a more than 25% fall so far today. That is at least consistent with moves elsewhere in other leading coins. As noted earlier, this is all about forced profit taking, and capitulation from those traders that have entered into the market at the top end of what was a clearly parabolic move. It should also be noted that the losses today, although savage, are not out of context in percentage terms, with the gains seen earlier in the week. XRPUSD is currently trading at $0.4890