Ripple price (XRP/USD) sees frequent gyrations in Wednesday trading

San Francisco-based firm Ripple publishes market update for Q2

Ripple price (XRP/USD) sees frequent gyrations in Wednesday trading

The Ripple price (XRP/USD) has been unable to secure a stable position over the past 24 hours due to frequent price fluctuations.

The third-largest digital currency fell to an intraday low of $0.438 in yesterday’s early trading, as part of a downtrend that had developed throughout the Monday session. This was followed by a strong rebound that propelled the Ripple price above the $0.46 mark. However, after reaching an intraday high of $0.466 in the afternoon, the coin suffered another decline that pushed its price back to sub-$0.46 levels. Still, the coin’s close of $0.457 was significantly higher than its opening price of $0.445.

Ripple has been unable to gain momentum in today’s trading, with its price zig-zagging in a tight range. The digital currency revisited the $0.46 level several times during the morning session, but it wasn’t to defend its position. At the time of writing, the Ripple price was hovering around $0.455, according to data from digital currency tracker Coinmarketcap.

In other XRP news, Ripple, the San Francisco start-up that developed the token, yesterday published a market update for the second quarter of the year. The company indicated that the three months to June were a challenging period for the token, which suffered declines in both price and trading volume compared to Q1 2018 and Q4 2017.

“This slowing could be attributed to the ongoing concern around regulation, both in the U.S. and around the globe,” the company said in the update. “Despite the SEC announcing in June that they don’t consider ether a security, there wasn’t a meaningful and sustained bump in volume or price of any digital asset, including XRP.”

At the same time, the company considers Q2 as its best quarter in terms of customers signed. The disparity between the company’s performance and that of the token underscores “XRP’s independence from Ripple”, the update reads.

In today’s trading, the Ripple price stood at $0.456, as of 12:53 BST. The coin has gained 0.1% in the past 24 hours.

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

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