Ripple has been among the best performers in the crypto top 10 in the past 24 hours, despite having edged lower in today’ trading.
Ripple has performed better than most in the wake of the crypto crash that hit the cryptocurrency market on Wednesday. The coin demonstrated its resilience on Thursday, when it managed to overcome a sharp drop that brought its price down to an intraday low of $0.432. XRP swiftly bounced back and eventually finished the session at $0.481, up from its opening level of $0.472.
The coin maintained this positive momentum during the early hours of today’s session and this allowed its price to advance to an intraday high of $0.485. However, it then went on a downward trajectory, suggesting that it’s not ready to attempt a return above the $0.50. At the time of writing, the Ripple price was hovering around the $0.47 mark, according to data from digital currency tracker Coinmarketcap.
Ripple’s resilient performance has allowed the coin to retain the position of the second-largest digital currency, which it took by overtaking Ethereum (ETH) during the aftermath of the Wednesday collapse.
Ripple’s performance might have been bolstered by the Wednesday announcement of a strategic partnership between Ripple, the San Francisco-based company that created the token, and CIMB Group, which is the fifth-largest bank in the ASEAN (Association of Southeast Asian Nations) region. As part of the partnership, CIMB will become a member of Ripple’s blockchain-powered enterprise network RippleNet, which will enable the bank to perform instant cross-border transactions across its markets
In today’s trading, the Ripple price stood at $0.472, as of 13:49 GMT. The digital coin has gained 5.3% in the past 24 hours. Its total market cap currently stands at just over $19 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.