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Crypto Coins Retreat as XRP Hangover Proves to Be Painful

  • XRP had almost doubled last week on payment usage optimism
  • Ripple co-founder reported to be increasing sales of token
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XRP, the digital currency that’s around 60 percent owned by Ripple Labs Inc., is going through a rough hangover following its wild week of gains.

The token, commonly referred to as as Ripple, fell as much as 17 percent to 44 cents Tuesday after nearly doubling in value last week, and has dropped back below Ether as the third-largest cryptocurrency following a brief stint at number two in CoinMarketCap.com listings.