The digital currency fell more than two percent or more than $ 0.01 on Wednesday, reversing its highest Ripple since May 26 and resuming its weekly losing streak for the fifth week in a row amid the recent surge in digital assets.

At 07:27 GMT, the digital currency Ripple by 2.40% to close at $ 0.58572 compared to the opening levels of $ 0.60081 after hitting a low of $ 0.58300 and a near one-week high of $ 0.62839. Currently, the market value of the world's third-largest digital currency by market value after both ethylene and Ethereum is about $ 59.3 billion.

The Ripple in the digital currency was the highest in almost a week in corrective action following yesterday's surge following a report on Tuesday that the National Assembly of South Korea (the legislative arm of the government) was working to lift the ban imposed by South Korea's third The world's largest digital currency market on initial currency offerings and encryption industry.

The report noted that the National Assembly had formally proposed legislation allowing initial digital currency offers provided that investors were protected. The Association had recommended the formation of a working group that would achieve better transparency of the digital currency transactions in South Korea and help develop the coding industry, South Korea has blocked the sale of initial symbols last September, saying it was based on an over-speculation and a violation of the capital market law there.

It is worth mentioning that the digital currency Ripple was launched on March 7, 2015 at $ 0.015 and lost about two-thirds of its value with the beginning of 2016 to $ 0.0059, and then achieved about 5% during that year to $ 0.0063 by the beginning of 2017 which ended At $ 1.748, up 28,000%, before reaching its highest ever on January 4th at $ 3.30 and subsequently losing more than 85% of its market value as it ended its first quarter of this year without a $ 0.5 barrier. Prices for the platform "Gatehub".