The XRP token’s market capitalization has fallen almost $130 billion since its all-time high in 2018, making the cryptocurrency project’s decline comparable to the collapse of major financial institutions.
According to Josh Frank of crypto-focused research company The TIE, the project is experiencing a collapse similar to some of the biggest corporate scandals and catastrophes in recent history.
XRP’s market cap has fallen by 93% from $137B to under $10B. That makes the value of the XRP collapse bigger than Enron and Worldcom.
While not a bankruptcy, XRP is effectively the third largest collapse of all time behind Lehman Brothers and Washington Mutual.
— Joshua Frank (@Joshua_Frank_) December 30, 2020
At its peak, XRP’s market capitalization was roughly $140 billion in January 2018. It has recently slipped under $10 billion, an estimated loss of $130 billion in under three years. This effectively makes the “collapse” of XRP third behind only the $327 billion bankruptcy of…