The Ripple price (XRP/USD) temporarily returned above the $0.50 barrier following a surge in yesterday’s afternoon trading that mirrored a larger upswing, observed across the digital currency market.
The third-largest digital coin on the market had a lacklustre morning session on Monday, as it struggled to defend its gains from the previous two sessions. However, the coin rallied in the afternoon, with its price jumping to a one-week high of $0.488. Ripple finished the day at $0.486, significantly higher than its opening level of $0.461.
Ripple continued its advance in the early hours of today’s trading, which allowed the digital currency to break above the $0.50 mark for the first time in 11 days. At roughly 5:50 BST, the digital currency hit an intraday high of $0.515, which was also its highest level since June 22, according to data from cryptocurrency tracker Coinmarketcap. However, the Ripple price has since retreated to lower levels and is currently hovering around $0.49.
Ripple has seen a significant improvement in trading volume, most likely reflecting the increased buying supporting the most recent rally. Recent market data shows that nearly $470 million worth of XRP tokens have changed hands in the past 24 hours. Some 19% of that volume have been captured by Japanese crypto exchange Bitbank, which has reclaimed its position as the most popular destination for XRP trading. The world’s largest cryptocurrency exchange, Binance, ranks second in terms of XRP volume, with a 11.3% share, while South Korean major Bithumb is third with 9.7%
In today’s trading, the Ripple price stood at $0.496, as of 12:55 BST. The digital coin has gained 8.3% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $19.5 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.