ripple

A substantial Ripple rally fizzled as the asset’s value fell as much as 12% from its weekly high.

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XRP-to-USD exchange rate

(XRP/USD) dropped to an intraday low at 0.3003 this Friday. Earlier yesterday, the pair had established a new weekly high at 0.3429 owing to global banking giant Swift’s announcement of integrating R3 Corda, which supports XRP as its native token. Traders treated the event as the sign of the next bull wave. The price surged impressively but found its upside momentum capped on a higher high formation towards $0.3429. A correction ensued and spent its Thursday maximizing.

RIPPLE 1D CHART | SOURCE: TRADINGVIEW.COM

At 0900 UTC, the XRP/USD was trading at 0.3043, up 1.31% from its intraday low. According to CoinMarketCap.com, the pair had fallen by 3.43% on a 24-hour adjusted timeframe.

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