The Ripple price (XRP/USD) has edged lower in today’s morning session, after failing to maintain the positive momentum it gained in late Thursday trading.
The third-largest digital currency on the market had a relatively quiet Thursday morning session, during which its price saw a modest increase from its opening level of $0.516. The virtual coin’s advance accelerated significantly in the latter portion of the session, which allowed the token to revisit the $0.55 mark in late trading. The coin rose to an intraday high of $0.550, before eventually finishing the day at $0.541.
Most of these gains, however, have been erased during today’s morning session. While the coin showed some resilience in the early hours of the session, it experienced a significant pull-back in more recent trading, with its price tumbling down to an intraday low of $0.522. At the time of writing, the Ripple price was hovering around the $0.525 mark, according to data from digital currency tracker Coinmarketcap.
Earlier this week, Nigel Green, founder and chief executive officer of investment advisor deVere Group, made a bullish forecast regarding the Ripple price, predicting that it could reach $1 by the end of the year. He also praised Ripple’s focus on the global remittance sector.
“XRP has been cleverly positioning itself to become a leading international facilitator of global remittances and inflows,” Green said, as quoted by Forbes. “This is a huge and growing market, especially in the emerging economies of Latin America, Asia and Africa,” he added.
In today’s trading, the Ripple price, stood at $0.525, as of 11:27 BST. The digital coin has lost 0.1% of its value over the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $20.9 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.