The price of Ripple (XRP / USD) saw a significant decline after it failed to challenge the $ 0.55 mark in yesterday morning's session.
The third largest digital currency on the market recorded strong gains in the early hours of yesterday's trading, with its price rising to an intraday high of $ 0.547, from its initial level of $ 0.528. However, this turned out to be Ripple's only bright spot in the last 24 hours, since the price of the coin has been steadily declining since then. Ripple had renounced all his first gains by the end of yesterday's session and continued on a descending trajectory in today's morning trading. At the time of writing, the price of Ripple was around $ 0.515, down from the Thursday closing of $ 0.526.
In other XRP-related news, Ripple, the San Francisco-based company that created the token, announced Wednesday that SBI Ripple Asia's mobile payment application, MoneyTap, was launched in Japan.
"The Japan Bank Consortium launched MoneyTap today, a Ripple-based payment app to offer real-time regulation for domestic payments in Japan," a Tweet on the official Ripple Twitter account.
The company presented the app in March, stating that it was the product of a partnership between SBI Ripple Asia, its joint venture with SBI Holdings and Japan Bank Consortium, a group of 61 Japanese banks. Ripple said the app would allow bank customers to make instant domestic payments "24 hours a day, seven days a week" and that SBI Net Sumishin Bank, Suruga Bank and Resona Bank would be the first members of the group to make the app available for its customers this fall.
In today's trading, Ripple's price was $ 0.515, starting at 10:53 BST. The digital currency has lost 4.2% in the last 24 hours, according to data from the Coinmarketcap digital tracker. The total capitalization of the currency is currently $ 20.6 billion.
For more information on how to buy and trade Ripple, see our comprehensive Ripple guide.