The Ripple price (XRP/USD) has experienced major fluctuations after it broke above the $0.70 mark in early Monday trading.
The third-largest cryptocurrency on the market had a strong start to yesterday’s session, as news that Japanese financial giant SBI Holdings had launched an XRP-focused trading platform provided a boost that allowed the token’s price to break above the $0.70 mark for the first time in two weeks. However, the digital coin saw a sharp pullback in subsequent trading, falling to an intraday low of $0.644. Underscoring the volatile nature of yesterday’s trading, Ripple spiked to $0.679 in the final hours of the session, only to finish the day at $0.661 following another sharp drop.
The decline continued in today’s early trading, with the Ripple price hitting an intraday low of $0.641 at roughly 04:10 BST. Since then, Ripple has experienced more price fluctuations, but has been mostly moving in an upward direction. At the time of writing, the Ripple price was hovering around the $0.66 level, according to data from cryptocurrency tracker Coinmarketcap.
Ripple saw a significant boost in term of market activity yesterday, with its daily volume rising to $558 million. According to recent market data, Ripple’s 24-hour volume currently stands at $409 million, which suggests that today’s trading activity has been significantly lower.
Japanese cryptocurrency exchange Bitbank remains the most popular destination for XRP trading, having captured 18.6% of the 24-hour volume. South Korea’s Bithumb exchange accounts for 13.1% of the volume, while Binance ranks third with a 12.9% share.
In today’s trading, the Ripple price stood at $0.660, as of 14:08 BST. The digital currency has gained 1.4% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $25.9 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.