Bitcoin, Ethereum, XRP Tank Amid Ransomware Buzz

• “Ransomware is a national security priority, particularly as it relates to attacks on critical infrastructure in the United States.”

• When asked about the topic of ransomware at the G7 Summit and U.S. proposed directives in this area: “The cryptocurrency challenge…lies at the core of how these ransomware transactions are played out.”

Sullivan’s comments about the relationship between cryptocurrencies and recent cyberattacks leaves little doubt ― cryptos are front-and-center on the minds of U.S. regulators. It looks like today’s downtick in BTC, ETH, and XRP may be at least partially attributable to the use of cryptos in recent ransomware attacks. 

Ransomware Scare Has XRP In Daily Bearish Territory

Overview: As you can see from the daily XRP chart, the market is in bearish territory. Prices have failed to become established above the Current Wave 38% Retracement ($1.05). At this point, it looks like a re-test of $0.75 and the current Swing Low ($0.65) is on the way sooner rather than later.