The Ripple price (XRP/USD) has seen modest gains over the past 24 hours, as the digital coin has been trying to recover from its recent lows.
The third-largest digital coin on the market fell to a more than three-week low of $0.276 in the early hours of yesterday’s morning session, as it was one of the many crypto assets affected by a large-scale crypto slump. The coin managed to stabilise its performance in subsequent trading and even managed to secure a close above the $0.30 mark. Ripple hit an intraday high of $0.305, before finishing the day at $0.302, according to data from digital currency tracker Coinmarketcap.
The coin attempted to resume its advance in today’s early trading, but it once again failed to rise above the $0.305 mark. As the session progressed, the Ripple price dropped below the $0.30 level and is currently hovering around $0.29.
While the price of XRP has taken a significant hit, falling from a Wednesday high of $0.334 to its recent lows, Ripple, the San Francisco-based start-up that developed the token, as well as its underlying protocol, has enjoyed a positive development. It was reported earlier this week that the company had partnered with digital remittance company TransferGo. Under the terms of the agreement, Ripple will provide the technology to power a new feature that will enable TransferGo’s India-based customers to instantly remit funds anywhere in Europe. This move furthers Ripple’s strategy to gain a stable foothold in India’s $70-billion remittance market.
In today’s trading, the Ripple price stood at $0.295, as of 14:22 BST. The coin has gained 2.6% in the past 24 hours, Coinmarketcap data shows. The coin total market cap currently stands at $11.7 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.