Cryptocurrency Ripple Briefly Drops More Than 11 Percent

Ripple tumbled more than 11 percent, dropping below $3 Friday, after crossing above that level for the first time two days ago.

The digital currency, officially called XRP, was trading near $2.83, down 11.56 percent on the day and off 26 percent from its record high of $3.84 hit Thursday, according to CoinMarketCap. Ripple traded near $2.98 Friday afternoon.

The decline followed a Coinbase blog post released Thursday afternoon that pushed back against recent rumors the company would soon add Ripple to its marketplace.

“As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company,” the post said.

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