The price of Ripple (XRP / USD) declined in today's session, after failing to maintain the positive momentum gained in Thursday's trading.
The third largest digital currency on the market had a relatively quiet Thursday morning session, during which its price saw a modest increase compared to its initial level of $ 0.516. The advance of virtual currency has undergone a significant acceleration in the last part of the session, which allowed the token to revisit the value of $ 0.55 in late trading. The currency rose to an intraday high of $ 0.550, before ending the day at $ 0.541.
Most of these gains, however, were canceled during today's morning session. While the currency showed some resilience in the early hours of the session, it experienced a significant slowdown in the most recent trades, with its price plummeting to an intraday low of $ 0.522. At the time of writing this article, Ripple's price was around the $ 0.525 mark, according to data from the Coinmarketcap digital tracker.
Earlier this week, Nigel Green, founder and chief executive officer of the deVere Group investment advisor, made a bullish forecast of the price of Ripple, predicting it could reach $ 1 by the end of the year. . He also praised Ripple's focus on the global remittance sector.
"XRP has cleverly positioned itself to become a major international facilitator of remittances and global inflows," said Green, 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 price of Ripple was $ 0.525, starting at 11: 27 BST. The digital currency has lost 0.1% of its value in the last 24 hours, shows Coinmarketcap data. The total market capitalization of the currency is currently $ 20.9 billion.
For more information on how to buy and trade Ripple, see our comprehensive Ripple guide.