Ripple rebounds from three-month low on short-covering

Ripple rose over three percent, or $0.02 on Monday away from December 22 lows for the second session on short-covering after sustaining heavy losses recently alongside other cryptocurrencies. 

As of 07:34 GMT, ripple rose 3.57% to $0.67300 from the opening of $0.64943, with an intraday high at $0.70640, and a low at $0.6262, with ripple's market value now amounting to $66.9 billion. 

Group of 20 meetings have started in Buenos Aires, Argentina, with finance ministers and central bank governors discussing various global issues, most importantly cryptocurrency regulations. 

Bank of England Governor Mark Carney said yesterday that cryptocurrencies don't constitute a threat to financial stability in the time being, while calling for issuing regulations to systematize the business. 

Bank of Japan governor Kuroda highlighted the need to regulate cryptocurrencies to combat money laundering and other illegal activities. 

Cryptocurrencies face increasingly hostile measures around the world as governments clampdown on the business for fear of terrorism funding, money laundering, in turn weighing heavily on cryptocurrencies recently. 

Private business has joined the battle as well, with Google banning cryptocurrency ads alongside Facebook, with reports indicating that Twitter could be the next platform to ban their ads.