The Ripple price (XRP/USD) has struggled in a rocky Tuesday session that has seen the third-largest cryptocurrency dropping below $0.80.
The digital currency dropped to as low as $0.787 yesterday, as it experienced a sharp decline in the latter part of the session. While the digital coin managed to rise above the $0.80 mark at the end of the session, it did not build enough positive momentum to continue its advance on Tuesday.
Ripple’s performance today has been largely disappointing, as the cryptocurrency has seen several drops below the $0.80 level. At the time of writing, the Ripple price was hovering around $0.78, according to data from cryptocurrency tracker Coinmarketcap. In addition, the market activity has remained subdued, with around $350 million worth of XRP tokens having been traded over the past 24 hours.
In other Ripple news, Thailand’s Siam Commercial Bank (SCB) is reportedly planning to expand its cross-border remittance services by adding support for British pounds and euros. In an interview with the Bangkok Post, SCB’s chief strategy officer, Arak Sutivong, said that the decision was made after the bank noticed strong flows of pounds and euros to the country. SCB’s cross-border remittance system is powered by Ripple’s blockchain technology.
In today’s trading, the Ripple price stood at $0.789, as of 13:38 GMT. The cryptocurrency has lost 4.5% of its value in the past 24 hours. Its total market capitalisation currently stands at $30.8 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.