Ripple price (XRP/USD) edges lower following strong weekend

Five more payment providers join Ripple’s xVia service

Ripple price (XRP/USD) edges lower following strong weekend

The Ripple price (XRP/USD) has edged lower in today’s session, although it has seen a more positive price action since the start of the afternoon trading.

The third-largest cryptocurrency on the market performed strongly over the weekend, especially on Saturday, when it rose to an intraday high of $0.887, from an opening level of $0.812. The digital coin had a less successful trading session on Sunday, although it briefly topped $0.90 in the early hours of trading. Ripple eventually finished the session at $0.872, slightly higher than the Saturday close of $0.863.

The cryptocurrency has mostly struggled since the start of today’s trading, especially in the morning session, when it dropped to an intraday low of $0.839. Its performance has somewhat improved in more recent trading and its price is currently hovering around $0.85.

Ripple, the San Francisco-based start-up behind the cryptocurrency, made the headlines last week by publishing a couple of major press releases. On Wednesday, the company released a market update on XRP’s performance during the first three months of 2018. A day later it announced that it had acquired five more customers for its xVia product. These new clients include UK-based payment providers FairFX, RationalFX and Exchange4Free, a Malaysia-based peer-to-peer currency exchange service called MoneyMatch and settlements firm UniPay from the Republic of Georgia. Ripple said that the firms “will leverage xVia’s standard API solution to power payments through RippleNet and access new markets, including emerging markets faster and more efficiently”.

In today’s trading, the Ripple price stood at $0.84, as of 15:15 BST. The digital currency has gained 0.7% in the past 24 hours, according to data from cryptocurrency tracker Coinmarketcap. The coin’s total market capitalisation currently stands at $33.4 billion.

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