The reason for the overall CC drop is coinmarketcap.com no...

The reason for the overall CC drop is coinmarketcap.com no longer taking into account Korean exchanges when reporting prices and market cap. Korean exchanges greatly inflate prices of coins. At any given time their prices are about 30% higher than the rest of the world. This skewed the numbers and gives an unrealistic prices for the rest of the world. Coinmarketcap could have dont this better by giving at least a 48 hour notice. But they just did it and it caused people to think that the market is crashing and panic sold. Which caused more people to panic sell. Today we're seeing the market starting to settle a little. It's a healthy market correction though. XRP went from 22 Cents to $3+ in less than two months. It was bound to correct.
As always, DYOR and good luck