Ripple price (XRP/USD) overcomes strong downtrend on Tuesday

The digital currency has been voted the best coin for moving digital assets between exchanges

Ripple price (XRP/USD) overcomes strong downtrend on Tuesday

The Ripple price (XRP/USD) has managed to rebound on Tuesday after struggling for most of yesterday’s session.

Having opened at $0.449 on Monday, the third-largest digital currency surged to an intraday high of $0.461 in the early hours of the session. However, this also marked the beginning of a steady decline that persisted throughout the rest of the session. As a result of this, the coin finished the day in the red, notching up a close of $0.445.

The Ripple price declined even further in today’s early trading, with its price falling to a three-day low of $0.438. However, this was followed by a strong rebound that propelled the Ripple price to an intraday high of $0.458. While the coin has seen some price fluctuations since then, it is currently trading around that level.

Ripple has also seen improvement in terms of market activity with its 24-hour volume surpassing $250 million. Bitbank remains the most popular destination for XRP trading with a 16.6% share of the volume, but Binance has significantly narrowed the gap to the Japanese platform, having captured 16.5% of all trades.

In other XRP news, the token has reportedly been recognised as the preferred digital currency for moving digital assets between cryptocurrency exchanges. As reported by FXStreet, Weiss Ratings has conducted a survey on Twitter, asking participants to choose the best coin for moving funds between exchanges. Ripple emerged as the undisputed winner, capturing 78% of the votes. Larger crypto rival Ethereum remained a distant second with 8%.

In today’s trading, the Ripple price stood at $0.457, as of 12:50 BST. The digital currency has gained 1% in the past 24 hours, according to data from cryptocurrency tracker Coinmarketcap. The coin’s total market cap currently stands at almost $18 billion.

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

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