The Ripple price (XRP/USD) has seen some modest gains in the past 24 hours, unlike most other top 10 cryptocurrencies, which have lost ground over that period.
These gains are due to Ripple’s strong performance on Sunday, when it continued its recovery from a drop that sent its price to a near one-month low of $0.639 in early Saturday trading. Yesterday, the cryptocurrency surged nearly 7%, securing a seemingly stable position above the $0.70 mark. Having hit an intraday high of $0.758 earlier in the session, the coin finished the day at $0.745, up from its opening level of $0.698.
Ripple hasn’t been able to maintain this positive momentum on Monday and has edged lower since the start of the session. Still, the digital currency has so far managed to defend the $0.70 level and its price is currently hovering around $0.72.
Ripple has seen a significant increase in terms of trading activity. Recent market data shows that around $640 million worth of XRP tokens have changed hands over the past 24 hours. This is significantly more than the $532 million of trading volume generated on cryptocurrency exchanges worldwide during yesterday’s session.
Notably, Japanese platform Bitbank has now overtaken South Korea’s Bithumb exchange as the most popular destination for Ripple trades. The Japanese exchange has processed just over $130 million, or 20.4% of the total trading volume in the past 24 hours. Bithumb claims the second place with a 16.4% share, while Bitfinex ranks third with 7.7%.
In today’s trading, the Ripple price stood at $0.724, as of 14:32 BST. The digital coin has gained 2.4% in the past 24 hours, according to data from cryptocurrency tracker Coinmarketcap. Its total market capitalisation currently stands at $28.4 billion, which makes it the third most valuable cryptocurrency on the market.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.