Ripple price (XRP/USD) hovers around $0.62 following Tuesday afternoon rally

Cryptocurrency sees lower trading activity on Wednesday

Ripple price (XRP/USD) hovers around $0.62 following Tuesday afternoon rally

The Ripple price (XRP/USD) has so far enjoyed some positive price action on Wednesday that has allowed it to defend the gains it posted during yesterday’s afternoon session.

Following a mostly disappointing morning session, the third-largest cryptocurrency was able to rally in the afternoon part of yesterday’s session, which allowed it to recover most of the losses it had incurred on Monday. The digital coin hit an intraday high of $0.610, before finishing the day at $0.601, significantly higher than the opening level of $0.556.

Ripple continued its advance in the early hours of today’s trading, rising to a five-day high of $0.627. While the coin has since retreated to lower levels, it seems to have secured a stable position above the $0.60 mark. At the time of writing, the Ripple price was hovering around $0.615, according to data from cryptocurrency tacker Coinmarketcap.

Recent market data also shows that around $353 million worth of XRP tokens have changed hands over the past 24 hours. That level of market activity is comparable, albeit slightly lower, to the level reached during yesterday’s session, when nearly $381 million XRP tokens were traded on global cryptocurrency exchanges.

Japanese cryptocurrency trading platform Bitbank continues to be the most popular destination for Ripple trading. The platform has captured 18.6% of the 24-hour volume, which gives it a significant lead over South Korea’s Bithumb exchange that has just over 12% of the global market activity. Binance is a close third with an 11.1% share.

In today’s trading, the Bitcoin price stood at $0.619, as of 13:39 BST. The digital coin has gained 3.4% in the past 24 hours, Coinmarketcap data shows. The virtual token’s total market capitalisation currently stands at $24.2 billion.

For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.

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