The price of cryptocurrency XRP tanked on Tuesday following a surprise spike last week.
XRP, which is often incorrectly referred to as Ripple, fell over 18 percent from the day before at around 8.25 a.m. London time, according to Coinmarketcap.com. It was trading at $0.46.
On Friday, the price of XRP jumped to $0.69 following a CNBC report that the company Ripple could be rolling out its cryptocurrency product that is based on XRP.
Ripple is a fintech company that focuses on blockchain-based payments to help financial institutions move money around the world faster. The firm holds the majority of the cryptocurrency XRP, which is independent of the company but can be used on Ripple's platforms.