The Ripple price (XRP/USD) has hit a four-day low after experiencing significant losses in the past 24 hours.
Ripple had a sluggish start to this week, mirroring the performance of the wider cryptocurrency market. Having opened at $0.700, the digital currency lost more than 3% of its value on Sunday, falling to a close of $0.681.
Shortly after the start of today’s trading, Ripple experienced another drop, which sent its price further down. The coin’s decline accelerated in the afternoon, with the price hitting $0.664, its lowest level since May 18. The Ripple price has edged slightly higher in more recent trading and is currently hovering around $0.67, according to data from cryptocurrency tracker Coinmarketcap.
Recent data also shows that Ripple continues to experience subdued market activity. Just over $224 million worth of XRP tokens have changed hands in the past 24 hours, less than the $250.5 million of XRP trades processed by global cryptocurrency exchanges on Sunday.
Japanese crypto exchange Bitbank has been the most popular destination for XRP trades in the past 24 hours, having captured 18.6% of the total volume. Chinese trading platform OKEx is a close second, capturing 15.5% across three trading pairs – XRP/USDT, XRP/BTC and XRP/ETH. Binance comes in third with a 10.7% share, while South Korea’s Bithumb exchange takes up the fourth place with 9.3%.
In today’s trading, the Ripple price stood at $0.670, as of 15:23 BST. The digital coin has lost 2.3% of its value in the past 24 hours, Coinmarketcap data shows. The token’s total market capitalisation currently stands at nearly $26.3 billion, which makes XRP the third-largest cryptocurrency on the market, behind Bitcoin (BTC) and Ethereum (ETH).
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.