RATE Group | Over $9 billion wiped off value of the cryptocurrency
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Over $9 billion wiped off value of the cryptocurrency

25 Sep Over $9 billion wiped off value of the cryptocurrency

Posted at 08:46h in Cryptocurrency News by

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Sagar Sarbhai, head of regulatory relations for Asia-Pacific and the Middle East at Ripple, said last week that the firm was making significant headway with its xRapid product, which is aimed at helping banks speed up transactions by using the cryptocurrency XRP.

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production,” Sarbhai said of xRapid in an interview with CNBC last week.

Since the spike on Friday, XRP’s market capitalization or value has fallen over $9 billion. The price of the digital coin has dropped more than 30 percent. There doesn’t appear to be a major catalyst for the downside move apart from investors taking profits.

XRP was one of the virtual currencies that was caught up in the huge…

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