XRP fights to hold above $0.30 after Tuesday slump

XRP fights to hold above $0.30 after Tuesday slump

XRP fights to hold above $0.30 after Tuesday slump

XRP plunged below the $0.30 mark in late Thursday trading, amid a larger cryptocurrency slump that sent Bitcoin’s price to a near one-month low below $10,000. Having risen to as high as $0.320 earlier in the session, the digital coin tumbled to a two-and-a-half-month low of $0.291 during the final hours of the session. XRP closed the session at $0.296, up from its opening price of $0.315.

The coin spent the better part of today’s morning session hovering below the $0.30 mark, but it managed to avoid dropping to yesterday’s lows. In late morning trading, XRP managed to recapture the $0.30 level, although it still had to deal with a couple of drops in subsequent trading. At the time of writing, the XRP price was hovering just above the $0.30 mark, according to data from digital currency tracker Coinmarketcap.

In other XRP-related developments, Spanish banking giant Banco Santander last week announced that it had opened a new channel in its cross-border payment app One Pay FX. The application is powered by blockchain technology from Ripple, San Francisco-based start-up that developed the XRP token. The new channel will facilitate payments between the UK and Poland.

Banco Santander released the iOS app in April 2018 in four countries – the UK, Spain, Poland and Brazil.

“One Pay FX uses blockchain-based technology to provide a fast, simple and secure way to transfer money internationally – offering value, transparency, and the trust and service customers expect from a bank like Santander,” Ana Botín, executive chairman of Banco Santander, said at the time.

In today’s trading, the XRP price stood at $0.309, as of 15:31 BST. The digital coin has lost 0.1% of its value in the past 24 hours. The coin’s total market cap currently stands at $13.2 billion, which makes XRP the third-largest digital currency on the market.

Featured image: Stanslavs / Shutterstock.com

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