Ripple price (XRP/USD) slips below $0.45 after Thursday crypto slump

The digital currency suffers losses as Bitcoin ETF rejection impacts market sentiment

Ripple price (XRP/USD) slips below $0.45 after Thursday crypto slump

The Ripple price (XRP/USD) has suffered significant losses amid a downtrend observed across the wider digital market.

The third-largest cryptocurrency saw some positive price action in yesterday’s morning session, rising to an intraday high of $0.466, from an opening level of $0.459. However, its performance worsened in the afternoon and especially in late trading, when its price tumbled to as low as $0.446. The coin eventually finished the day at $0.449.

The late Thursday slump followed news that the US Securities and Exchange Commission (SEC) had rejected a second attempt by Cameron and Tyler Winklevoss to list shares of a Bitcoin exchange-traded fund (ETF). The news dampened the market sentiment and triggered similar declines in the prices of other major digital currencies, such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Stellar (XLM).

Since the start of today’s session, the coin has been hovering around the level of its Thursday close. While it reached an intraday high of $0.452 in the morning session, it has dropped below the $0.45 mark in more recent trading.

Ripple’s 24-hour trading volume currently stands at almost $200 million, which consistent with the volume generated on Thursday. The world’s largest crypto exchange, Binance, has been the most popular destination for Ripple trading over that period, having captured nearly a fifth of the total volume. Japanese crypto trading platform ranks second with a 15.2% share, while HitBTC takes the third place with a 13.7% share.

In today’s trading, the Ripple price stood at $0.447, as of 14:42 BST. The digital currency has lost 2.9% of its value in the past 24 hours, according to data from digital currency tracker Coinmarketcap. Its total market capitalisation currently stands at just over $17.5 billion.

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

0 Brokers added for comparison:
Clear all