Ripple price (XRP/USD) struggles to recover after drop below $0.27

Ripple Labs settles outstanding litigation with R3

Ripple price (XRP/USD) struggles to recover after drop below $0.27

The Ripple price (XRP/USD) has dropped below the $0.27 level, after seeing significant losses over the past 24 hours.  

The third-largest digital currency on the market posted significant losses on Monday, as its price followed a downward trend that dominated most of the trading session. The digital coin fell to as low as $0.263 in the afternoon session, which was its lowest price level since August 14. The coin managed to pare its losses in late trading, but still finished the day at $0.270, well below its opening level of $0.280.

Ripple had a decent start to today’s trading, rising to an intraday high of $0.274 in the early hours of the session. However, this has remained the only bright spot for the coin today, as the downward pressure intensified in subsequent trading. At the time of writing, the Ripple price was hovering around its Tuesday low, according to data from digital currency tracker Coinmarketcap.

In other XRP-related news, Ripple, the company that developed the token, has reached a settlement of its legal battle with rival blockchain start-up R3.

“R3 HoldCo LLC, R3 LLC, Ripple Labs Inc. and XRP II, LLC announce that they have reached a settlement of all outstanding litigation between the parties. The terms of the agreement will remain confidential and both sides look forward to putting these disputes behind them,” the companies said in a joint statement.

The litigation between began roughly a year ago, after R3 filed a suit in Delaware, claiming that Ripple had violated the terms of a 2016 agreement that included an option allowing R3 to purchase up to purchase 5 billion XRPs at a fixed rate of $0.0085 over a three-year period.

In today’s trading, the Ripple price stood at $0.262, as of 13:30 BST. The digital coin has lost 4.3% in the past 24 hours, Coinmrketcap data shows.

For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.

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