Ripple price LIVE updates: XRP DOWN 22 percent below $0.80 | City & Business | Finance

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Ripple fell to a monthly low on Friday morning, breaching prices not seen since the start of February.

XRP opened on the markets today at $0.83, before dropping to $0.79 per token by 8.50am GMT, according to CoinDesk.

As of 9.03am GMT, XRP is exchanging hands for $0.78 – down 22.7 percent on the start of the month.

The bearish performance comes off the back of a wider crypto selloff, affecting major tokens across the board, including bitcoin, Ethereum and Litecoin. 

Here is the latest Ripple price, expert analysis and cryptocurrency news. All times GMT.

9.34pm: Ripple plotting worldwide transaction takeover

Ripple Managing Director Danny Aranda revealed the cryptocurrency is plotting a worldwide cross-border takeover in a bid to stand out from its rival digital currencies and make worldwide payments easier for “real customers with real problems”.

In an exclusive interview with Express.co.uk, Ripple’s Danny Aranda said the digital currency is planning a cross-border takeover to make global payment transfers quicker. 

Mr Aranda said Ripple wants to ensure it is producing “very viable” solutions that can be used in the digital landscape.

He said: “I think a lot of what you see in the cryptocurrency space and in the blockchain space is really focussed on experiments or small proof of concepts. 

“But Ripple is really determined to make sure that we are focussed on serving real customers with real problems and our focus area is around cross-border payments and ensuring that we deploy cryptocurrencies as a better method to fund the liquidity for the cross-border flows which is a huge cost centre and a huge problem to that.” 

READ MORE: Ripple cross-border takeover: Cryptocurrency giant plotting worldwide transaction takeover

7.57pm: Ripple hires Bloomberg TV’s Cory Johnson as chief market strategist

Ripple has hired a chief market strategist who use to work for Bloomberg Television.

Cory Johnson will tell the payments start-up story to investors, previously he covered technology on TV and for Bloomberg Radio.

“The role of Ripple as a company and XRP as a currency in financial markets, to regulators, financial institutions and investors could use more explaining,” Mr Johnson said.

“I’m going to try and explain, listen and set strategies to make it easy for Wall Street and the world of finance to understand what we’re doing.”

5.57pm: PacCoin jumps to third position on CoinMarketCap

PacCoin has become the third cryptocurrency listed on CoinMarketCap.

It has overtaken Ripple, which is now in fourth position.

The price of PacCoin is listed as $0.013025 and it has a market cap of $33,461 billion compared to Ripple’s $32,017 billion. 

It is currently unclear what has led to the change in position, however the cryptocurrency has recently launched on Lescovex – a cryptocurrency exchange and trading platform.

Lescovex said on Twitter on March 7: “PACCOIN is going to be listed on Lescovex!

“We’ve checked the community demand, the quality, philosophy and technical aspects of $PAC n [sic] we believe that it’s a good coin to be listed in our exchange.”

PacCoin CoinMarketCap.com

PacCoin has jumped to third position on CoinMarketCap.com

4.05pm update: Price of Ripple

The price of Ripple currently stands at $0.81 – a 4.57 percent reduction – as the markets still recover from the announcement of the U.S. Securities and Exchange Commission that crypto exchanges must register with the agency.

The market cap is $31,813 billion, according to CoinMarketCap.com. 

It fell to $0.78 this morning which is down more than 20 percent since the start of the month. 

12.04pm: Central Bank of China chief blasts cryptocurrencies

Zhou Xiaochuan, the central bank governor, underlined today his country does not recognise cryptocurrencies as a legitimate form of payment.

He said: “We do not currently recognize Bitcoin and other digital currencies as a tool like paper money, coins and credit cards for retail payments.

“The banking system does not accept it.”

He added: “If they spread too rapidly, it may have a big negative impact on consumers.

“It could also have some unpredictable effects on financial stability and monetary policy transmission.”

Ripple price: Zhou XiaochuanGETTY

Ripple price latest: Governor Zhou Xiaochuan said cryptocurrencies are not legitimate money in China

11.23am: Ripple managing director reveals why token is so volatile

Ripple Managing Director Danny Aranda told Express.co.uk even the smallest of movements can have an impact on cryptocurrency prices.

He said: “It’s a relatively small market. There were $20 billion traded in and out of cryptocurrencies overall.

“And if you compare that to the overall FX markets for say dollars and euros, that’s about $5 trillion a day.

“So this, is in order of magnitude, smaller than our traditional markets that we have around in the present day.

“And because it’s so timely traded, small movements can really affect the price.

“I think the volatility is really the question, the scale and the volumes that are moving in and out of cryptocurrencies.”

Read the full exclusive story here: Ripple Managing Director reveals why cryptocurrency price is so volatile

9.10am: Ripple price on the decline against US Dollar

XRP was is in heavy decline against the US Dollar and bitcoin tis morning and could continue to fall, according to market analyst Aayush Jindal.

Mr Jindal said: “At the moment, the price is trading near the 1.236 Fibonacci extension of the last wave from the $0.7869 low to $0.8778 high. It could continue to decline and it may even break the $0.7500 level. 

“The next major support on the downside is around $0.7300. The stated level also coincides with the 1.618 Fibonacci extension of the last wave from the $0.7869 low to $0.8778 high. 

“On the upside, there are many resistances around the $0.8000 level. Moreover, yesterday’s highlighted crucial bearish trend line with current resistance at $0.0.8000 is intact on the hourly chart of the XRP/USD pair.”

Ripple price LIVE updates: XRP chartCOINMARKETCAP

Ripple price LIVE: XRP is down around 22 percent on the start of the week

9.05am: Ripple hires Bloomberg TV’s Cory Johnson as chief market strategist

Mr Johnson confirmed on Thursday he had left his television network to head the cryptocurrency company’s market strategy team.

He said: “The role of Ripple as a company and XRP as a currency in financial markets, to regulators, financial institutions and investors could use more explaining.

“I’m going to try and explain, listen and set strategies to make it easy for Wall Street and the world of finance to understand what we’re doing”

9am: ‘2019 is the year Ripple finally takes off’ touts analyst 

Crypto expert Roman Guelfi-Gibbs, the Director of Operations at Pinnacle Brilliance, is convinced one year from now Ripple will dominate the cryptocurrency sphere.

He said: “Ripple certainly has the potential to move up a notch in 2018, but I think it will be more likely in 2019.

“As the market observes more projects being coded in other algorithms such as XRP, ETH will likely take a backseat to the next big coin/token.

“It will take some time for the markets to digest this, so I am projecting 2019 to be the likely time for it to take place.”

Read the full story here: Ripple PRICE ‘CRASH’: Cryptocurrency plummets after MAJOR XRP market announcement

9am: Sebastian Kettley starts live reporting.

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