The Ripple price (XRP/USD) has edged lower after failing to break above the $0.50 mark in yesterday’s trading.
The third-largest digital currency on the market had a quiet morning session on Monday, trading in the $0.47-$0.48 range. The situation changed in early afternoon trading, as Ripple experienced a sudden surge that propelled its price to an intraday high of $0.491. However, this was immediately followed by a sharp pullback toward the $0.47 area. The cryptocurrency made another attempt to rally, but its advance hit a wall near the $0.49 mark. Eventually, Ripple finished the session at $0.481, up from its opening level of $0.477.
Ripple’s performance has been lacklustre, so far in today’s trading. The coin experienced an early drop and while it has managed to recover some of its losses in subsequent trading, it has remained in the negative territory. At the time of writing, the Ripple price was hovering just below the $0.48 area, according to data from cryptocurrency tracker Coinmarketcap.
Meanwhile, Ripple’s trading volume continues to be subdued. Recent market data shows that just over $209 million worth of XRP tokens have changed hands in the past 24 hours, which suggests that the market activity is lower than on Monday, when global crypto exchanges generated nearly $232 million of XRP trades.
Japanese crypto trading platform Bitbank remains the most popular destination for Ripple trading, having captured 20.5% of the 24-hour volume. This is followed by Binance and OKEx, which account for 11.6% and 11.4%, respectively.
In today’s trading, the Ripple price stood at $0.477, as of 12:57 BST. The digital coin has lost 1.3% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $18.7 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.