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The price of Ripple (XRP / USD) saw significant losses as the collapse of cryptocurrency sales intensified in trading late Thursday.
The second largest digital currency on the market suffered a sharp decline in Thursday's last trading, with its price dropping to an intraday low of $ 0.298. The currency eventually ended the session at $ 0.300, down from its initial level of $ 0.307.
Ripple saw further losses in today's trading, dropping below the $ 0.30 threshold. The decline accelerated in the early afternoon, when Ripple dropped to a low of $ 0.294. At the time of writing this article, Ripple was still trading near that level, according to data from the Coinmarketcap digital tracker.
In other news related to Ripple, Reuters reported yesterday that the United Arab Emirates based in the United Arab Emirates and the US start-up have developed the planned token for the launch of blockchain-based cross-border payments in Asia by the first quarter of 2019 .
"Blockchain is an incredible promise for the industry, but there is progress to be made before it becomes fully mainstream," said UAE Promoth Manghat, in an interview with Reuters. . "We expect to go live with Ripple by the first quarter of 2019 with one or two Asian banks, which is for remittances to start from around the world in Asia."
The United Arab Emirates stock exchange is part of the payments and of the Finablr exchange company. Manghat, who is also Executive Director and CEO of Finablr, said the company is exploring "how Ripple can improve our business-to-business solutions in Finablr".
In today's trading, the price of Ripple was $ 0.295, at 13:38 GMT. The digital currency has lost 2.9% of its value in the last 24 hours, shows the Coinmarketcap data. The total capitalization of the currency is currently equal to $ 12.1 billion.
For more information on how to buy and trade Ripple, see our comprehensive Ripple guide.
