XRP, Bitcoin and Ether tumble as Trump cries ‘scam’

The prices of the world’s major cryptocurrencies have tumbled as Donald Trump labels Bitcoin a “scam”.

The former United States President, who is banned from Facebook for two years and remains banned from Twitter over inflammatory comments, spoke to Fox Business about the trailblazing digital currency.

“Bitcoin, it just seems like a scam. I don’t like it because it’s another currency competing against the dollar,” he said, adding that he wanted the dollar to be “the currency of the world”.

His comments came amid news that El Salvador plans to make Bitcoin legal tender.

Bitcoin (BTC) tumbled 9% in the last 24 hours to below $33,000, which puts it 12% down on this time last week and around half of its record value set a few weeks ago.

Ethereum (ETH), which set a record price of $4,300 just last month, dropped 10% to $2,500 and is 8% down in a week.

Ripple’s XRP coin, which hit $1.91 recently, is now down at 85 cents after an 11% dip in 24 hours and 21% drop in a week.

Dogecoin (DOGE), the coin created as a crypto parody and based on a meme, dropped 13% to 32 cents. Its seven-day price is down 4%.

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The other top 100 coins followed suit, with the majority dropping between 10-20%.

Theta Fuel (TFUEL) bucked the trend as the only coin to gain value, climbing 11% to more than 50c. It is 44% up in a week.

To see how the valuations of the biggest movers and shakers – and main coins – have changed over the last few days, click here.

For up-to-the-minute valuations of the top 100 coins by market cap, and the one-hour price change, see below. 

To see the Crypto Rich List, the world’s richest people in cryptocurrency, scroll down to the bottom of the page.

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