Ripple price (XRP/USD) gyrates in rocky Wednesday session

The digital coin struggles to gain momentum amid subdued market activity

Ripple price (XRP/USD) gyrates in rocky Wednesday session

While the Ripple price (XRP/USD) has returned above the $0.46 mark, it hasn’t been able to gain significant momentum due to frequent fluctuations.

The third-largest digital currency on the market faced significant difficulties during yesterday’s morning session, with its price gyrating in the low $0.45 area. Ripple’s performance remained unstable in the afternoon, but the coin experienced a sharp jump in the afternoon that propelled its price to an intraday high of $0.465. The coin eventually pulled back to lower levels, but still finished the session higher than its opening level of $0.455, notching up a close of $0.459.

The digital coin has continued to experience price swings in today’s trading. The coin has been able to top the $0.46 level on several occasions, even revisiting its yesterday high, but it has struggled to defend its gains. At the time of writing, the Ripple price was hovering around $0.46, according to data from digital currency tracker Coinmarketcap.

Ripple’s performance has been hindered by low market activity, as despite the frequent price swings, trading has seemingly declined. According to recent market data, around $211 million worth of XRP tokens have changed hands over the past 24 hours. This is significantly less than the $255 million processed by global cryptocurrency exchanges on Wednesday.

The world’s largest crypto exchange, Binance, has been the most popular destination for XRP trading in that period, having claimed roughly 18% of the 24-hour volume. European platform HitBTC ranks second with a 13.3% share.   

In today’s trading, the Ripple price stood at $0.457, as of 15:27 BST. The digital coin has gained 0.6% over the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at just over $18 billion.

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

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