Ripple price (XRP/USD) briefly trades below $0.30 on Friday morning

The Ripple price (XRP/USD) has seen a steep correction after hitting a two-week high on Thursday morning.

The second-largest digital currency on the market enjoyed a strong start to yesterday’s session, with its price surging to a 15-day high of $0.333. This price jump was the result of the strong momentum Ripple had built following the Wednesday news that global banking payment network SWIFT is working on a trial to integrate blockchain software from Ripple rival R3. Meanwhile, Ripple chief executive officer Brad Garlinghouse indicated that his company was open to working with SWIFT.

However, XRP wasn’t able to maintain this positive momentum as the Thursday session progressed, likely affected, in part, by a downturn observed across the broader crypto market. In addition, there was no indication that Ripple and SWIFT planned to work together in the near future. The digital coin tumbled to an intraday low of $0.305 in the afternoon, before eventually closing at $0.310. This was well below the coin’s opening price of $0.320.

Ripple has seen further losses in today’ trading, even dropping below the $0.30 mark during the opening hours of the session. The coin has managed to recover some of its losses in the afternoon and is currently trading just below the $0.31 level.

At the same time, Ripple has seen a notable decline in terms of trading volume. Recent market data shows that some $580 million worth of XRP tokens have changed hands over the past 24 hours. This is significantly lower than the $780 million of volume generated on Thursday.

In today’s trading, the Ripple price stood at $0.308, as of 15:49 GMT. The digital coin has lost 0.2% of its value in the past 24 hours, according to data from digital currency tracker Coinmarketcap.

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