Ripple (XRP) was hit hard last night and the cryptocurrency is still down 25 percent Monday evening. CCN reported that community members blamed Ripple's market cap decline of over $50 billion on price descrepencies on CoinMarketCap, which led to panic selling.

While this theory has merit, the correction in Ripple's price comes as some crypto-community members are alleging the third-largest cryptocurrency is a massive scam by banks to acquire as much ethereum and bitcoin as possible. Although conspiratorial, it does seem to fit with Ripple's claim that banks are planning to use their cryptocurrency, and the probability that banks will want to play catch-up acquiring currencies with actual value.

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