Ripple XRP price dropped 5.5% on Tuesday to $1.03 from $1.09

Ripple XRP dropped 5.5% on Tuesday from its opening price of $1.09 (at 00:00 UTC) to $1.03 by the end of the day – all other major cryptocurrencies also suffered losses.

Ripple XRP currently has a market capitalization of approximately $40.34 billion – about $2 billion lower than on Monday, according to data from Coindesk.

Ripple XRP price chart for Tuesday, February 13.
Ripple XRP price chart for Tuesday, February 13, 2018. Source: Coindesk

Ripple’s market cap is still much lower than its all-time high at the beginning of the year of 145.5 billion – when it briefly overtook Ethereum as the second largest digital currency by market cap. At the time, XRP was trading at around $3.80.

The cryptocurrency then dipped to a 2018 low of around $0.63 last week.

Ripple XRP has since recovered from last week’s low prices amid announcements of new major partners that will join RippleNet (the San Francisco-based company’s decentralized global network of banks and payment providers).

Market sentiment improved as new companies announced partnerships with Ripple

A new deal between Ripple and UAE Exchange was struck to speed up cross-border exchanges and LianLian, one of China’s largest money service companies, announced it will join RippleNet and use Ripple’s settle solution xCurrent to power cross-border transactions between China, Europe and the US.

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