The value of Ripple (XRP) declined below the 43 cents mark on Friday, June 29, hitting a new low for the year. Ripple (XRP), the third most valuable digital currency in the world based on market cap traded at $0.424 on Friday afternoon, surpassing the previous low of $0.438 that was seen just a couple of days ago on digital currency trading platforms across the globe.
The digital currency has not traded below the 43 cent mark since December 12th last year.
Ripple Price Today: Current Price of XRP
At the time of going to press, the digital currency has bounced back with an increase of 5.67 percent in the last twenty-four hours. The digital currency is now trading at 47 cents after bouncing off its low for the year. Ripple (XRP) has a market cap of $18.07 billion and a trading volume of $194.46 million over the last twenty-four hours.
Can Ripple Hold On To Its Current Value?
The bears in the market will look to strengthen their grip if the present level of the digital currency can’t hold, as Ripple isn’t accompanied by any neighboring technical support. Ripple is not the only digital currency that tested a new low on Friday, however, the digital currency was accompanied by the likes of Zcash, Litecoin (LTC), NEO, and OmiseGo.
Bitcoin (BTC) was just $14 away from breaking its 2018 low of $5,786 on Friday morning. But the digital currency has also made a remarkable comeback as its now trading well above the $6k mark. Consequently, the entire digital currency market is under pressure.
The total market cap of the digital currency market has hit $232 billion – which is its lowest since November last year. It has also reduced by a margin of 72% from its all-time high of about $830 billion – according to coinmarketcap.com.