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After hitting a high in January of £2.57 ($3.61), the currency has plummeted to just 91p ($1.28), but this could turn around when it joins cryptocurrency exchange BitOasis today. In a statement, BitOasis said: “We’ve decided to introduce XRP trading to meet the increased demand from our customers to add to the list of major cryptocurrencies and digital assets offered on our platform. “As one of the largest and fastest-growing companies in the blockchain space in the region, we’re committed to providing our customers with a secure way to buy and sell Bitcoin, Ethereum and now, Ripple.” After the statement was issued on Sunday, the price of the virtual currency spiked to a value of £1 ($1.40).

Getty Ripple is currently struggling to catch up to Bitcoin, Ethereum and Litecoin in terms of value

BitOasis labels itself as “the Middle East and North Africa's leading digital asset wallet and exchange”. The exchange is present in “UAE, Kuwait, Bahrain, Oman and Saudi Arabia” - the extra markets could mark a turning point for the cryptocurrency. Ripple is currently struggling to catch up to Bitcoin, Ethereum and Litecoin in terms of value. However, if investors had put as little as £71 ($100) into ripple last January, the virtual currency would have attracted a healthy sum of £25,112 ($35,259).

Cryptocurrency price: A year in charts Mon, March 12, 2018 Compare crypto currencies (Ripple, Bitcoin, Ethereum, LiteCoin) on value, market cap and supply for the past year Play slideshow coindesk.com 1 of 10 LiteCoin is going down with the market dip

Meanwhile, if £71 had been invested in each of the top ten cryptocurrencies an astonishing amount of £46,090 ($64,707) would have been the reward. Although Bitcoin is still by far the leading cryptocurrency in terms of value, a string of crackdowns against it has caused a huge stumble. Japan became the latest Asian country to take aim at virtual currencies after nervous investors reeled following a £380million Coincheck heist. Other cryptocurrencies were hit by the slide yesterday with rival Etheruem falling from $1,525 on Monday to $1,153.

Getty Bitcoin is still by far the leading cryptocurrency in terms of value

Getty BitOasis labels itself as 'the Middle East and North Africa's leading digital asset wallet'