Ripple slips amid sharp losses for cryptocurrencies despite stocks losses

Ripple fell during trading today amid losses in the cryptocurrency market despite the pressures in the global stock markets in the midst of the escalating trade war between the United States and China.

Risk assets such as cryptos and equities were hit by heavy losses and sharp sell-off today after US President Donald Trump announced a 10 percent tariffs on imports of Chinese goods at about $300 billion as of September.

Investors have shifted to the precious metals as safe havens in the face of growing trade war fears.

This comes at a time when there is still concerns about the new digital currency "Libra", which Facebook plans to launch next year, as politicians and central banks are afraid of the abuse of this currency in illegal activities such as money laundering.

In terms of trade, by 21:15 GMT, Ripple fell by 2.3% to $0.31, the day's highest at $0.32 and the lowest at $0.31.

Bitcoin fell by 0.4% to $10,375, the highest price at $10,666 and the lowest price at $10,323.1.