It is still alive?
Usually you can just clip off the algae growth on the tips, but this frag is so small, that option may not work in this case. I'd bring it down lower in the tank as
@frisbee suggested. I'd also try to blow off the algae. And continue to blow off the algae daily (maybe couple times a day or as needed anytime the algae regrows back). Allowing the algae to stay on it can allow the algae to spread. Use a baster or something similar to blow off the algae. Since it is an sps it has a very thin layer of tissue on it, so blowing off the algae does less harm then getting it off in another way (don't scrape it off with some tool).
In the future allow all new sps to sit in the sand bed for a week. This allows them to acclimate to the tanks chemistry and light levels. Then slowly, I mean very slowly, move them up a little in the tank. Do this on a weekly basis. Then move them up a little more. Continue to slowly move them up to the spot you want them to be in. This allows the sps, particularly the more sensitive sps, to acclimate to the light levels in our tank.
Keep us posted on its progress. Hope it can make a come back. Sometimes the come back can takes weeks to months, so be patient. Sps can be finicky.
