The Ripple price (XRP/USD) has recovered from recent lows, after experiencing a steady increase in yesterday’s afternoon trading.
The third-largest cryptocurrency on the market struggled during Tuesday’s morning session, dropping to a five-day low of $0.797. However, the digital coin was able to recover in the afternoon, helped by improved sentiment, felt across the wider cryptocurrency market. Ripple finished the session at $0.841, slightly higher than its opening price of $0.838.
Despite experiencing some minor drops early on, Ripple has been able to extend its gains in today’s trading. At the time of writing, the Ripple price was hovering around $0.86, according to data from cryptocurrency tracker Coinmarketcap.
Market activity appears to be slightly subdued, with recent market data showing that about $590 million worth of XRP tokens have been traded in the past 24 hours. This compares with a trading volume roughly $631 million that was generated on Tuesday.
South Korea’s Bithumb crypto exchange has the biggest share of the current 24-hour volume, having captured 18.5% of all XRP trades. Bithumb is followed closely by Japanese trading platform Bitbank and fellow South Korean exchange Upbit, which capture 14.9% and 11.8% of the volume, respectively.
In other XRP news, it was revealed yesterday that Ripple’s enterprise blockchain network, RippleNet, had joined another customer – an Oman-based lender called BankDhofar.
“We are delighted to be the first bank in Oman to join RippleNet and access more than 100 of its member banks and other financial institutions utilizing blockchain for instant payments,” the bank’s chief information officer, Tariq Taha, said in a press release. “With this, we can provide instant, frictionless and secure cross border money transfers within seconds, with end-to-end visibility over the journey of the payment.”
In today’s trading, the Ripple price stood at $0.862, as of 08:57 BST. The digital coin has gained 4.3% in the past 24 hours. Its total market capitalisation currently stands at $33.7 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.