The Ripple price (XRP/USD) has retreated to the $0.45 level amid a strong downtrend that initially developed during yesterday’s afternoon session.
The third-largest digital currency on the market spent the majority of yesterday’s morning session trading around the $0.48 level. The digital coin some positive price action in the afternoon, which helped it to top the $0.49 mark. However, this was followed by a steep decline that saw its price tumbling to an intraday low of $0.471. The coin eventually finished the session at $0.476, down from its opening level of $0.487.
Ripple has seen further losses in today’s trading, as the downtrend persisted during the early hours of the session. As a result, the coin hit an intraday of $0.449, dropping below the $0.45 mark for the first time in five days. The coin has since managed to recover some of its losses and is currently hovering around the $0.46 level.
Ripple has also seen a drop in trading volume, with recent market data showing that just over $280 million worth of XRP tokens have changed hands over the past 24 hours. This is less than the $294 million processed by global cryptocurrency exchanges during yesterday’s session.
Japanese crypto trading platform Bitbank has reclaimed the No. 1 spot among XRP-trading exchanges by capturing nearly a quarter of the 24-hour volume. The world’s largest crypto exchange, Binance, comes in second with a 14.7% share, while Huobi completes the top 3 with about 9%.
In today’s trading, the Ripple price stood at $0.459, as of 13:28 BST. The digital coin has lost 5.7% of its value in the past 24 hours, according to data from digital currency tracker Coinmarketcap. The coin’s market capitalisation currently stands at just over $18 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.