Ripple drops 12% after South Korean deposit ban for foreigners
Economies.com
2018-01-22 19:12PM UTC
Ripple fell $0.16 on Monday amid a cryptocurrency selling frenzy that resumed after the largest South Korean cryptocurrency trading company banned foreigners from depositing to its platforms, with Ripple entering its third week of losses away from recent record highs at $3.317.
As of 06:52 GMT, ripple fell 12.08% to $1.20 from the opening of $1.36348, with a session-low at $1.14200, and a high at $1.42089.
Ripple's market value now fell to about $120 billion, after falling below $100 billion on Wednesday when it hit December 24 lows at $0.87 amid a heavy cryptocurrency selloff.
One of the largest cryptocurrency trading companies in South Korea banned non-citizens from depositing to its platforms, while announcing an intention to end virtual account services later this month and allow only real ID accounts.
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