The Ripple price (XRP/USD) has fallen in today’s trading, but a rebound during the morning session has allowed it to keep losses in check.
After reaching an intraday high of $0.250 yesterday, the fourth-largest cryptocurrency lost momentum and finished the session at $0.242. The downward trend continued in the early hours of today’s trading, when the price fell to an intraday high of $0.238, before bouncing back. At the time of writing the Ripple price was hovering around $0.241, according to data from cryptocurrency tracker Coinmarketcap.
Ripple’s performance has been bolstered by the Wednesday announcement that British bank Standard Chartered and India’s Axis Bank had launched a cross-border payment platform based on Ripple’s distributed ledger technology. The platform will connect businesses between Singapore and India.
Earlier this month US financial services giant American Express unveiled a similar RippleNet-based platform, developed in partnership with Santander UK. The service is designed to enable instant-cross border payments between the US and the UK and could be expanded worldwide in the future, Amex said.
In today’s trading, the Ripple price stood at $0.241, as of 16:00 GMT. The digital currency has lost 1.2% of its value in the past 24 hours and its total market cap currently stands at $9.3 billion.