Ripple continues to decline as Bitcoin drops more than 6%

Most of the cryptocurrencies, including Ripple, fell on Monday on market's optimism following the US-China trade truce, which has boosted investors' appetite into global stock markets such as Wall Street.

In its latest move to launch its own cryptocurrency, Facebook is seeking licenses from regulators in New York for its currency Libra, which it plans to launch in the first half of next year.

Separately, ministers in the Dutch government have demanded the use of cryptocurrencies for various payment activities in the country, while analysts in the Financial Times said that global central banks should have their own cryptocurrency.

In terms of trading, by 21:58 GMT, Ripple fell by 0.5% to $0.40, with the highest at $0.40 and the lowest at $0.38.

As for Bitcoin, it shed 6.2% to $10,579, with the highest at $11285.3 and the lowest at $9977.1, As the major cryptocurrency has lost more than 10% since the beginning of the week.