The market cap of Ripple fell from £57billion ($79billion) on Saturday to about £52billion ($62billion) at on Tuesday morning, according to CoinMarketCap.

The price of Ripple’s currency XRP suffered similar hits, dropping from a weekend high of £1.49 ($2.05) to open today at just £1.17 ($1.61).

The unexpected fall comes after the announcement of a partnership between Ripple and MoneyGram on Thursday evening saw prices rise to £1.61 ($2.22).

Most of the top cryptocurrencies were trading at a loss on Monday morning, with the notable exception of Ethereum (ETH), which has been on a steady upward trend since the start of the year.

The CoinMarketCap crypto tracker below shows the latest XRP price and market cap in real time.

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Here is all the latest Ripple news and price updates. All times GMT.

Tuesday 16th January

7.35am: Ripple suffers heavy blow as market cap losses $17BILLION

Ripple prices took another plunge on Tuesday morning, shortly after opening on the market at £1.22 ($1.68), according to CoinMarketCap.

Prices plummeted just around 4am from their opening price down to £1.11 ($1.53) and but have since bounced back somewhat.

The price drop came with another hit to Ripple’s market capitalisation, which is now £12billion ($17billion) lower than its Saturday value of £57billion ($79billion).

According to FXEmpire contributor Bob Mason, it is unlikely for XRP to claw back to $2 per token any time soon.

He said: “Ripple’s blockchain tech continues to be well received by the financial sector, but with investors having speculated on Ripple as an investment that had delivered exceptional returns in December and early January, questions will be asked on whether Ripple can make a run at the all-time high hit at the start of the year.

“We would expect Ripple to have a better 2nd half of a day, but a move beyond $1.7 levels will be needed for Ripple to move back to $2.00 levels and it’s certainly looking unlikely at the time of writing.”

7am: Sebastian Kettley takes over live reporting from Amani Hughes.

5.50am: Cryptocurrency can now be used on Twitch

Amazon’s video game streaming service Twitch, is now allowing for subscribers to pay through cryptocurrency.

As well as being able to use options such as PayPal, Apple Pay and Visa, the website will accept cyber currencies.

The news was revealed by Twitch on Twitter.

Their tweet said: “Put those gift cards from grandma to good use by subscribing to your favourite streamer!”

Monday 15th January

10:30pm: France calls for tough new regulations on cryptocurrencies

French finance minister Bruno Le Maire has warned against cryptocurrencies as he attempts to crack down on regulation on Bitcoin, Ethereum, Litecoin and Ripple.

Le Maire ordered a former central bank chief to draft potential new rules, warning against the “risks of speculation and possible financial manipulation” linked to cryptocurrencies such as Bitcoin. 

Last month the EU and legislators agreed on stricter rules to prevent money laundering and terrorism financing on exchange platforms for bitcoin and other virtual currencies.

10:05pm: Ripple drops further as it makes 3.5% plunge in 24 hours 

XRP has dipped even further on the market this evening, it currently stands at $1.78 (£1.29), according to CoinMarketCap's tracker - dropping 3.54% in 24 hours.

Digital currencies have fallen after reports South Korea was banning cryptocurrency trading last week.

10:00pm: Amani Hughes takes over reporting from Kat Hopps 

6.05pm: International regulation is needed says German banker

A top German banker has said the regulation of cryptocurrencies such as Bitcoin may be impossible without the introduction of worldwide rules.

Several countries, notably in Asia, are trying to put a stop on the tradiing of XRP, Bitcoin and other cryptocurrencies.

But Joachim Wuermeling, a member of the board of German’s Bundesbank, said national or regional rules would be ineffective without full international co-operation.

Speaking at an event in Frankfurt, he said: “Effective regulation of virtual currencies would therefore only be achievable through the greatest possible international cooperation, because the regulatory power of nation states is obviously limited.”

4.10pm: Ripple price remains static

XRP continues to be low at $1.83 (£1.33), according to CoinMarketCap's tracker.

However, it is a rise from 12.30pm today when it was at $1.80 (£1.30).  

Chinese authorities are continuing a clampdown on cryptocurrency trading by targeting websites and mobile apps that offer exchange-like services, Bloomberg has reported.

It said: "The government plans to block domestic access to homegrown and offshore platforms that enable centralized trading, the people said, without being more specific about how policy makers define such platforms.

"Authorities will also target individuals and companies that provide market-making, settlement and clearing services for centralized trading, the people said, asking not to be named because the information is private. Small peer-to-peer transactions aren’t being targeted."

4.05pm: Kat Hopps takes over live reporting from Sebastian Kettley

11.55am: ‘Don’t buy cryptocurrencies’ blast Mr Money Moustache

Peter Adeney, a popular financial blogger also known as Mr Money Moustache, has urged potential investors to stay away from the allure of cryptocurrencies. 

The finance expert likened the crypto craze to the devastating 17th century Tulip Mania – the world’s first economic bubble crash.

He said: “When you make this kind of purchase – which you should never do – you are speculating. This is not a useful activity. 

“You’re playing a psychological, win-lose battle against other humans with money as the sole objective. Even if you win money through dumb luck, you have lost time and energy, which means you have lost.

“Investing means buying an asset that actually creates products, services or cashflow, such as a profitable business or a rentable piece of real estate, for an extended period of time. 

“An investment is something that has intrinsic value – that is, it would be worth owning from a financial perspective, even if you could never sell it.”

10.30am: South Korean ban on crypto trading postponed

Korean regulators sent shockwaves through the markets last week, after Justice Minister Park Sang-ki announced his decision to ban the trade of digital currencies.

But an official from the Office for Government Policy Coordination has now revealed that the plans have not been finalised yet.

He told a press conference: “The plan to ban cryptocurrency exchanges, recently mentioned by the nation’s justice minister, is one measure in talks to curb speculative investments, which the government will carry on with enough discussion for before finalising the decision.”

On January 11, Mr Park threatened to put an end to the highly speculative trade of cryptocurrencies.

Digital tokens like bitcoin and Ripple tend to trade with 30 percent premiums in South Korea.

9.07am: Ripple volatility is a ‘mystery’ claims crypto expert

Tiffany Hayden, community manager of blockchain wallet Edge, said that she does not know why cryptocurrencies exhibit such high degrees of volatility.

Replying to a questions about Ripple on social media, Ms Hayden said that short-term owning of XRP is a frustrating venture.

She said: “I have no idea why crypto is so volatile. Bitcoin came so close to hitting $20K last month and now it’s under $14K. 

“Alts often follow suit. $XRP is more frustrating to own, short-term, IMO. It moves differently. I don’t know the rhyme or reason. It’s a long-term hold for me.”

9am: Ripple is not ‘The Dream’, warns senior analyst 

Davi Kofsky, senior manager at Rimon Advisory, warned potential XRP investors to be wary of Ripple’s centralised business model. 

The expert said: “As cryptocurrencies go, Ripple (XRP) is a very strong technology. It offers comparatively high transactions per second, and negligible fees. 

“But for those who dream of a decentralisation future, Ripple is not the answer.”

Unlike bitcoin, the entire 100 billion supply of Ripple tokens was pre-mined by its creators. The team behind it is holding onto around 55 billion XRP.

8.50am: Ripple trading starts new week on a loss

Ripple prices are more than 4 percent down at about 8.50am, having further fallen to £1.34 ($1.84), according to CoinMarketCap’s tracker.

The token’s market capitalisation is also trading at an 8 percent loss on its Saturday value – a loss of around £5billion ($7billion).

Bitcoin was spared no punches either and is currently trading at £10,028.07 ($13,775.20), an almost 6 percent loss on its Saturday high of £10,654.21 ($14,635.30).

Ethereum kicked off trading today with some brief gains, rising from £993.76 ($1,366.77) to £1,011.01 ($1,390.49) before plummeting to ££971.73 ($1,336.47) around 2.30am.

8am: Sebastian Kettley starts live reporting.