The Ripple price (XRP/USD) has seen further losses on Tuesday, echoing a downward trend observed across the wider cryptocurrency market.
The third-largest cryptocurrency on the market had a disappointing trading session yesterday, falling to as low as $0.812, from an opening price of $0.871. While the digital coin saw an uptick in the latter portion of yesterday’s trading, it only managed to recover a small part of its losses for the day. Ripple, finished the session at $0.832, posting its lowest close since April 27.
The digital currency made another attempt to rebound in the early hours of today’ trading, with its price rising to an intraday high of $0.846. However, the coin did not have enough momentum to sustain a more significant rally, especially in a somewhat downbeat Tuesday market. According to data from cryptocurrency tracker Coinmarketcap, the Ripple price is currently hovering around $0.81, having recently fallen to an intraday low of just over $0.80.
Ripple has also seen a significant decline in terms of trading volume. Recent market data shows that about $490 million worth of XRP tokens have changed hands in the past 24 hours, significantly lower than the $600 million processed on Monday.
Other major digital coins have also turned in disappointing performances in today’s trading. At the time of writing, the No. 1 cryptocurrency, Bitcoin (BTC) was trading at around $9,180, down from its yesterday close of $9,373.01. Bitcoin Cash (BCH), Litecoin (LTC), Cardano (ADA) and Stellar (XLM) are also posting small losses for the most recent 24-hour period. Meanwhile, IOTA and EOS are the only top 10 cryptocoins that have enjoyed gains since the start of today’s trading.
In today’s trading, the Ripple price stood at $0.812, as of 15:48 BST. The digital currency has lost 1.1% of its value, according to Coinmarketcap. The coin’s total market capitalisation currently stands at $31.8 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.