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Ripple price (XRP/USD) hits 11-day low on Thursday morning amid crypto downtrend

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The Ripple price (XRP/USD) has fallen to 11-day low following a difficult Wednesday session and poor early trading on Thursday.

The second-largest digital currency on the market saw plenty of negative price action yesterday, as its spent pretty much the entire session on a downward trajectory. Having opened the session at $0.352, the coin finished it at an intraday low of $0.338.

The digital coin continued its decline in the early hours of today’s trading, with its price dropping to an 11-day low of $0.332. This was immediately followed by a sharp surge that allowed XRP to revisit the 0.34 mark. The coin spent the rest of the morning session defending the $0.34 level, but it has slipped up in recent trading. At the time of writing, the Ripple price was hovering around the level of yesterday’s close, according to data from digital currency tracker Coinmarketcap.

In other XRP-related news, Finextra yesterday reported that distributed ledger technology firm R3 had launched a universal settler app to facilitate payments on its Corda platform. XRP is the first cryptocurrency supported by the app.

“The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together,” R3’s chief technology officer, Gendal Brown, said, as quoted by Finextra.

In today’s trading, the Ripple price stood at $0.338, as of 12:50 GMT. The digital coin has lost 2.8% of its value in the past 24 hours, Coinmarketcap data shows. Still, the coin has shown greater resilience than many of its top 10 crypto peers, including Ethereum (ETH), Bitcoin Cash (BCH), EOS and Stellar Lumens (XLM).

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

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