The Ripple price (XRP/USD) has hit its lowest level in more than a month, struggling amid an ongoing cryptocurrency sell-off.
The third-largest cryptocurrency on the market had a difficult trading session yesterday, especially in the afternoon, when it slipped below the $0.60 mark for the first time in more than a month. The digital coin hit an intraday low of $0.586, which was its lowest price level since April 12. Despite experiencing an uptick in late Wednesday trading, Ripple finished the session at $0.599, significantly lower than its opening price of $0.648.
Ripple made another attempt to recover its losses in the early hours of today’s trading session, as its price rose to an intraday high of $0.622. The coin’s momentum was hindered, as it experienced another pullback later in the session, but it responded with a renewed advance towards the $0.60 mark. At the time of writing, the Ripple price was hovering around $0.61.
This renewed advance has allowed Ripple to cap its losses and become one of the better performing digital coins in a downbeat market. At the moment, the cryptocurrency is actually up for the day, unlike most of its major rivals.
Ripple’s 24-hour trading volume currently stands at $470.9 million, which is comparable to the levels seen in yesterday’s trading. Japanese crypto trading platform Bitbank remains the most popular destination for Ripple trading, having captured just over 18% of the 24-hour volume. Major South Korean exchange Bithumb comes in second with an 10.3%, share, while OKEx, the world’s largest crypto exchange by trading volume, ranks third with a 10.1% share.
In today’s trading, the Ripple price stood at $0.605, as of 13:32 BST. The coin has lost 3% of its value in the past 24 hours, according to data from cryptocurrency tracker Coinmarketcap.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.