Ripple price (XRP/USD) edges lower on Friday morning

The third-largest digital coin fails to defend $0.28 mark in rocky trading

Ripple price (XRP/USD) edges lower on Friday morning

The Ripple price (XRP/USD) has enjoyed solid rebound after hitting a near one-month low on Wednesday.

The third-largest digital currency performed strongly on Thursday, benefiting from a broader cryptocurrency rally. The coin’s performance was particularly impressive during the afternoon portion of the session, when its price reached a four-day high of $0.284. Ripple eventually finished the session at $0.280, up from its opening level of $0.270.

The coin has revisited the $0.284 level several times during today’s morning session, but it hasn’t been able to extend its rally beyond that mark. The coin has also experienced several drops below the $0.28 level, with the most recent one taking it to an intraday low of $0.275.

In other Ripple-related news, SBI Ripple Asia, a joint venture between Japanese financial giant SBI Holdings and Ripple, appears to be moving closer to launching a payments mobile application powered by Ripple’s distributed ledger technology. SBI Ripple Asia chief executive officer Takashi Okita on Wednesday announced the app’s website had been launched. As reported by online publication Coindesk, the website indicates that the app is scheduled to release for Android and iOS devices in the autumn.

Ripple unveiled the app, called MoneyTap, in March, adding that the product was developed in partnership with a consortium of 61 Japanese banks. MoneyTap would allow customers of the banks to make instant domestic payments, “4 hours a day, seven days a week”, and only requires a bank account, phone number, or QR code, Ripple said at the time.

In today’s trading, the Ripple price stood at $0.278, as of 12:30 BST. The digital coin has gained nearly 2% over the past 24 hour, according to data from cryptocurrency tracker Coinmarketcap. The coin’s total market cap currently stands at just over $11 billion.

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

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