The price of ripple (XRP / USD) struggles to defend $ 0.27

  Ripple price (XRP / USD) struggles to defend $ 0.27

Ripple price (XRP / USD) has seen significant losses in the last 24 hours as it can not recover from the crypto collapse last week. [19659003] Like many of his crypto-competitors, Ripple suffered a heavy blow after Business Insider reported last Wednesday that Goldman Sachs was abandoning plans to open a cryptocurrency trading desk in the near future. While Goldman's chief financial officer, Martin Chavez, stated that the rumors were unfounded, he also indicated that the bank had no immediate plans to create physical Bitcoin markets. Ultimately, his comments did little to support the crypto market, which continued to bleed red during the weekend.

Ripple was one of the biggest losers during weekend trading. The performance of the currency was particularly poor on Saturday, when its price fell to a low near one month of $ 0.273. Ripple eventually closed the session at $ 0.279, down from its initial level of $ 0.291.

The third digital currency showed some signs of improvement in yesterday afternoon trading, when its price rose to an intraday high of $ 0.291. After this brief rebirth, the currency continued its downward trajectory, which led to a closing of $ 0.278.

The ripple continued to decline steadily in today's trade, with pressures on the support level of $ 0.27. Ripple's price hit an intra-day low of $ 0.270 in the afternoon and currently hovers above that level, according to data from the Coinmarketcap digital tracker

Meanwhile, market activity continues to be weak, with volume 24-hour exchange rate of Ripple to just over $ 185 million. Japanese cryptographic exchange Bitbank has the largest share of that volume – 13.5%.

In today's trading, Ripple's price stood at $ 0.270, at 16:17 BST. The digital currency has lost 6.1% of its value in the last 24 hours. Its total capitalization currently stands at $ 10.7 billion.

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

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