Ripple price (XRP/USD) edges higher on Thursday, $0.30 mark remains under pressure

The Ripple price (XRP/USD) has edged higher on Thursday, in an attempt to stay above the $0.30 level.

The third-largest digital currency on the market suffered a heavy blow yesterday, as its price plunged below the $0.30 mark during the session. The coin spent the rest of the session trading around that level and hit a two-and-a-half-month low of $0.296 in the afternoon. XRP eventually finished the session at $0.302, down from its opening price of $0.321.

Ripple has seen some nervous trading today, as its price has experienced a couple of minor drops below $0.30. The coin has seemingly stabilised in recent trading, which has allowed it to enter the positive territory for the day.

In other XRP-related news, Ripple, the San Francisco-based start-up that created the token and its underlying tech, yesterday released a market update for the first quarter of this year. The company revealed that it had sold $169.42 million worth of XRP tokens in Q1, up from the $129.03 million sold in the final three months of last year. Nearly $62 million were sold directly to institutional investors (compared to $40.15 million in Q4), with the rest sold programmatically. Overall, these sales accounted for 0.32% XRP’s total trading volume during the quarter.

Ripple also said that the token had been listed by 19 new exchanges during the quarter, “bringing the total number to approximately 120 exchanges worldwide”. Meanwhile, RippleNet, the company’s blockchain-powered enterprise solution added 13 new members. Some of those customers, namely JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank, “announced that they will leverage XRP to source liquidity on-demand”.

In today’s trading, the Ripple price stood at $0.303, as of 13:58 BST. The digital currency has gained 0.3% in the past 24 hours, according to data from digital currency tracker Coinmrketcap. The coin’s total market capitalisation currently stands at $12.7 billion.