XRP price slips below $1 for the first time since August as longs unwind

XRP slipped below $1 on Friday for the first time since August. The cause lies less in any single piece of Ripple news than in the derivatives market: leveraged long positions were force-closed one after another, and each of these forced sales pushed the price a little lower. Late on Friday evening XRP traded at $1.008, according to CoinGecko, after a daily low just below $1. The move did not come alone. Bitcoin lost 4.3 percent on the same day and stood at $68,291 on Friday evening; on the week it is down 9.9 percent.