Ripple Price Plunges 20% But Ethereum Continues to Rise in Shaky Market

The cryptocurrency markets made a bearish pivot on Wednesday, plunging nine of the 10 largest cryptocurrencies into negative territory. The ripple price bore the brunt of the blow and fell 20 percent to sink below the $2 mark, but the damage was not isolated to XRP. Ethereum, meanwhile, continued to advance toward record highs in spite of the poor performance of the wider markets.

Altogether, the combined value of all cryptocurrencies shed more than $28 billion, a four percent decline that reduced the cryptocurrency market cap to $700.3 billion.