Ripple is nearing $1.00 as the crypto carnage extends

Last at $1.03

Ripple Ripple Ripple is both a cryptocurrency (XRP) and a blockchain-based digital network for payments and other financial transactions.Its mining process differs from the rest as it uses a consensus mechanism to confirm its transactions which is supported by a group of bank-owned servers.These transactions are much more energy-efficient than, for example, bitcoin, take less time to confirm and have lower transactional costs. In terms of market capitalization, Ripple is currently sitting in the top 5.Ripple Ripple is both a cryptocurrency (XRP) and a blockchain-based digital network for payments and other financial transactions.Its mining process differs from the rest as it uses a consensus mechanism to confirm its transactions which is supported by a group of bank-owned servers.These transactions are much more energy-efficient than, for example, bitcoin, take less time to confirm and have lower transactional costs. In terms of market capitalization, Ripple is currently sitting in the top 5.Ripple Read this Term is in freefall as cryptocurrencies Cryptocurrencies Cryptocurrencies represent nearly counterfeit-proof digital currencies that are built on blockchain technology. These can be obtained using cryptography or virtual currencies.Cryptocurrencies constitute decentralized networks, harnessing blockchain technology that crucially are overseen by a central authority. This makes cryptocurrencies unique in their function, placing them effectively outside the sphere of influence from any government or central bank.Such digital currency stems from encrypti Cryptocurrencies represent nearly counterfeit-proof digital currencies that are built on blockchain technology. These can be obtained using cryptography or virtual currencies.Cryptocurrencies constitute decentralized networks, harnessing blockchain technology that crucially are overseen by a central authority. This makes cryptocurrencies unique in their function, placing them effectively outside the sphere of influence from any government or central bank.Such digital currency stems from encrypti Read this Term take another leg down as Asian markets start to wake up.

The cryptocurrency is now down almost 70% since the January 4 high and is down 40% today alone.

One story to follow in the days ahead is Bitconnect. It was an ICO and token that looked like a Ponzi scheme from the start but it got heavy promotion on youtube and around the internet.

The site has been down for a few days and there are real concerns that the game is up.

With promises like this, it shouldn't be a surprise: