The Ripple price (XRP/USD) has dropped below the $0.45 level for the first day since October 15 amid a downtrend affecting most major virtual coins.
The third-largest digital currency on the market had a rough session yesterday, even though it enjoyed some positive price action in early trading, rising to an intraday high of $0.463. The virtual coin tried to defend its early gains, but eventually gave in to the pressure and pulled back to sub-$0.46 levels. Ripple’s decline became particularly evident in the afternoon, when the coin hit an intraday low of $0.45. However, XRP experienced a slight uptick in late trading, that allowed it to pare its losses for the day. The token finished the session at $0.453, down from its opening price of $0.456.
Ripple has continued to experience serious difficulties in today’s trading, as its price has been moving on a downward trajectory since the start of the session. The coin fell to as low as $0.439 in the early afternoon session, which was its lowest level since October 15. At the time of writing, the Ripple price was hovering around $0.44, according to data from digital currency tracker Coinmarketcap.
While at the moment it isn’t clear whether the drop has been triggered by anything in particular, Ripple’s performance appears to be roughly in line with a downtrend observed across the broader cryptocurrency market. Most of the top 10 digital currencies have seen losses over the past 24 hours, with Stellar (XLM) and Monero (XRM) being the only gainers.
In today’s trading, the Ripple price stood at $0.443, as of 13:43 BST. The digital coin has lost 2.3% of its value over the past 24 hours. Its total market cap currently stands at $17.7 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.