Ripple's XRP Crashes 55% in Biggest Drop of All Time
Yesterday, the crypto market experienced its biggest drop in years, with Ripple's XRP plummeting 55%.
The price fell to its lowest level in almost a year, but selling was made virtually impossible. This drastic drop was largely caused by the escalating trade war between the US and China.
Donald Trump has announced an additional 100 percent import tax on Chinese products.
The trade war is causing fear in the financial markets, with the crypto market and altcoins being hit the hardest. For XRP, it was the biggest crash ever, with the price falling from $2.82 to $2.66 in just a few hours after Trump's announcement.
This decrease of almost 6% was just the beginning, with the price ultimately falling by 55%.
Author's summary: XRP crashes 55% in historic drop.