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Ripple price (XRP/USD) falls to one-week low on Wednesday morning

on Oct 3, 2018
Updated: Mar 11, 2020
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The Ripple price (XRP/USD) has declined by more than 5% in the past 24 hours, which has made it one of the worst performers in a downbeat cryptocurrency market.

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The third-largest digital currency on the market had a disappointing trading session yesterday, losing nearly 10% of its value during the day. The virtual coin opened the session at $0.577, which remained its highest price level for the day. Having been on a slow, but steady, decline throughout most of the session, in late trading the coin experienced a steeper drop that led to a close of $0.520, the lowest in six days.

Ripple saw further loses in today’s early trading, with its price falling to a one-week low of $0.512. The Ripple price has since seen a modest uptick and is currently hovering around the $0.525 level, according to data from digital currency tracker Coinmarketcap.

Notably, the decline has developed during Swell, an annual blockchain conference held by Ripple, the San Francisco-based company that that developed the XRP token and its underlying protocol. During the first day of the two-day event, Ripple priced in by investors.

In today’s trading, the Ripple price stood at $0.526, as of 11:14 BST. The digital coin has lost 5.5% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at just over $21 billion.

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

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