The Ripple price (XRP/USD) dropped below the $0.80 earlier in today’s session, but the cryptocurrency has managed to bounce back in more recent trading.
The third-largest cryptocurrency experienced a significant decline during a Monday trading session that proved disappointing for the digital currency market as a whole. The virtual token fell by nearly 4% on the day, closing the session at $0.837.
Ripple saw further losses in the early hours of today’s session, when it fell to a five-day low of $0.797, but the coin was able to regain most of the lost ground in subsequent trading. At the time of writing, the Ripple price was hovering around $0.83, according to data from cryptocurrency tracker Coinmarketcap.
Recent market data also suggests that, so far today, Ripple has seen an improvement in terms of market activity. Nearly $625 million worth of XRP tokens have changed hands over the past 24 hours, compared to $575 million in yesterday’s trading. South Korea’s Bithumb exchange has been the most popular destination for Ripple trading over that period, accounting for 18.5% of the total volume. Japanese crypto trading platform Bitbank comes in second with a 13.9% share. The top 3 is completed by another South Korean exchange, Upbit, which captures 12% of the volume.
Ripple is currently traded on more than 60 exchanges across the world. In its most recent market update, published last week, Ripple said that 18 new venues had listed the token during the first quarter of the year, contributing to a record quarterly trading volume of $160 billion.
In today’s trading, the Ripple price stood at $0.826, as of 13:11 BST. The digital coin has lost 3% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s market capitalisation currently stands at $32.3 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.