The Ripple price (XRP/USD) continues to trade well below the $0.45 mark, despite experiencing a strong start to Tuesday trading.
The third-largest digital currency on the market saw a sharp decline yesterday, as part of a sudden downturn that affected the broader digital currency market. Having opened the session at $0.461, Ripple fell to as low as $0.437 in the afternoon, which was it lowest level since October 15. While the digital coin managed to pare its losses in the final hours of the session, it finished the day at $0.441, notching up its worst close in 15 days, according to data from digital currency tracker Coinmarketcap.
Ripple’s advance continued during the early hours of today’s trading, as the coin came within striking distance of the $0.45 mark. However, the rally eventually ran out of steam, leaving Ripple only with an intraday high of $0.482. The coin has since pulled back to lower levels and is currently trading around $0.445.
In other XRP-related news, Ripple, the San Francisco-based start-up that developed the token, recently hired a former Google executive to head its products unit.
According to a report from industry website Coindesk, earlier this month Amir Sarhangi joined Ripple to become vice president of products at the blockchain firm. Prior to this move Sarhangi’s recently served as director of messaging product management and partnerships at Google, a position he held for just over three years. Sarhangi’s professional background also includes stints at Vodafone and Deloitte.
According to Reuters, which first reported on the story on October 26, as part of his new role, Sarhangi will lead the development effort on Ripple’s global financial payments network, RippleNet.
In today’s trading, the Ripple price stood at $0.445, as of 13:24 GMT. The digital coin has gained 0.4% in the past 24 hours.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.