Ripple price (XRP/USD) fails to defend late Thursday gains

The cryptocurrency continues to experience thin trading volumes

Ripple price (XRP/USD) fails to defend late Thursday gains

The Ripple price (XRP/USD) has seen significant losses in a Friday session marked by frequent price fluctuations.

The third-largest cryptocurrency on the market enjoyed largely positive trading on Thursday, especially during the final hours of the session, when it surged to an intraday high of $0.570. However, the digital coin run out of steam near the end of the session and finished the session at $0.561. This was still a positive finish for Ripple, which had opened the session at $0.535.

Ripple’s pullback continued during the early hours of today’s trading, with the coin’s price falling below $0.56. The digital currency has experience a number of minor price swings since then, but, until recently, it was mostly trading above the $0.55 level. This changed in recent trading, as the coin didn’t have an immediate response to the latest downswing. At the time of writing, the Ripple price was hovering around $0.545, according to data from cryptocurrency tracker Coinmarketcap.

Meanwhile, Ripple’s trading volume once again fails to impress. Recent market data shows that just over $308 million worth of XRP tokens have changed hands in the past 24 hours. This is significantly lower than the already unremarkable $379.8 million that were processed on global XRP-trading exchanges on Thursday.

Japanese crypto exchange Bitbank remains the most popular destination or XRP trading, having captured 20.2% of the 24-hour volume. South Korean major Bithumb ranks second with a 10.8% share, while the world’s largest crypto exchange OKEx remains a close third with a 10.4% share.

In today’s trading, the Ripple price stood at $0.546, as of 15:47 BST. The digital coin has gained 1.5% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $21.4 billion.

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

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