Following a sluggish start to today’s trading, the Ripple price (XRP/USD) has bounced back from its yesterday lows and is currently testing the $0.60 level.
The third-largest cryptocurrency on the market saw significant losses in yesterday’s trading, with its price dropping below the $0.60 mark in the morning portion of the session. The coin attempted to bounce back in the early afternoon trading, but it pulled back after facing stiff resistance near the $0.59 level. The decline accelerated towards the end of the session, with Ripple closing at an intraday low of $0.552, down from its opening level of $0.608. This was Ripple’s lowest close since April 11.
The cryptocurrency continued to struggle throughout most of today’s morning session. However, the coin has seen a strong uptick in more recent trading, allowing it to recover most of its yesterday losses. At the time of writing, the Ripple price was hovering just below $0.60
Ripple has seemingly seen a slight improvement in terms of trading activity, with its 24-hour trading volume currently standing at $366 million, according to data from cryptocurrency tracker Coinmarketcap. This is higher than the $328 million worth of XRP tokens that changed hands during yesterday’s session.
Having overtaken South Korea’s Bithumb crypto exchange earlier this month, Japanese platform Bitbank is currently the most popular destination for Ripple trading. The platform has captured nearly 19% of the 24-hour volume, while the world’s largest exchange OKEx comes in second with a 10.9% share. Binance is a close third with a 10.5% share.
In today’s trading, the Ripple price stood at $0.595, as of 13:40 BST. The digital coin has risen 2.5% in the past 24 hours, Coinmarketcap data shows. The token’s total market cap currently stands at $23.3 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.