Ripple is just one of many cryptocurrencies that dropped significantly last night, sparking fears that the bubble is about to burst.
XRP sits at $0.5494, seeing 5.333 percent of its value shaved off overnight, according to CoinGecko.
The token is currently trading well below the $0.5900 resistance and pivot level against the US dollar.
XRP is another victim of a collective drop in crypto-value over the last 24 hours, with bitcoin and Ethereum also shedding value.
Here is the latest live news on the Ripple (XRP) price. All times in BST.
2pm update: London Block Exchange adds Ripple, with more coins to follow
London Block Exchange (LBX), a multi-cryptocurrency exchange, has announced it will be adding Ripple (XRP) to the list of coins available to purchase and sell.
The Electronic Money Services Directive (EMD) now has a license to exchange bitcoin, Ethereum, BCH, and Litecoin, with the hope that they can add more.
This comes after Ripple suffers from a market-wide crash.
Ripple prices are now down 8.43 percent, currently trading at $0.536493.
The crypto-market was rocked overnight when the majority of currencies experienced a significant drop in price.
12:30 update: Ripple gives away $29 million of its cryptocurrency to public schools
Ripple donates $29 million worth of tokens to more than 28,000 public schools across the United States.
The donation, one of the largest single gift donations made to a charity by a cryptocurrency, was in response to thousands of requestions from public school teachers via DonorsChoose.org.
The requests were made by the teachers to help cover the costs of new classroom equipment to better help deliver classes to children across all 50 states.
Charles Best, founder, and CEO of DonorsChoose.org, said he approached Ripple based on CEO Brad Garlinghouse’s previous involvement with the foundation. He sent Ripple executives an email laying out the possible impact of fulfilling the teachers’ requests.
“To my own shock, they said yes,” said Best, who founded the charity 18 years ago. “It was mind-blowing that it would be the largest donation of cryptocurrency.”
DonorsChoose.org agreed to liquidate the donation in its entirety into U.S. dollars over two weeks, according to Long, in an effort to avoid flooding the market and affecting the price.
The charity’s policy, which also applies to donated shares of a company, is to sell right away.
9am update: Cryptocurrencies experience a blanket drop in price.
The world wakes up this morning to a drastic drop in prices for the majority of cryptocurrencies, as bitcoin inches closer to the death cross.
In simple terms, the death cross marks the point when a stock’s 50-day moving average (MA) crosses its 200-day MA, resulting in a spiraling bearish trend that could spell the end of the stock.
Bitcoin has lost more than 5 percent in the last 24 hours.
The shockwave has sent the entire crypto-market into a dropping trend, with Ethereum losing 8.8 percent and Ripple dropping by 6.19 percent.
Prices for all currencies sit in the bearish zone, with investors waiting to see if it can stabilise in the near future.