The Ripple price (XRP/USD) has managed to break through the $0.27 barrier thanks to a late Wednesday rally that mirrored a larger crypto uptrend.
The third-largest digital currency on the market had to endure some challenging trading on Wednesday, as its price suffered frequent fluctuations throughout the day. However, the coin managed to finish the session strongly, despite falling to a near one-month low of $0.255 earlier in the day. Following a late rally, the coin finished the day at $0.270, up from its opening price of $0.263.
Ripple has extended its gain further on Thursday, rising to an intraday high of $0.276 in the early hours of the session. The coin has retreated to lower levels in subsequent trading, but has remained above the $0.27 mark.
Ripple’s advance is in line with a broader rally observed across the digital currency market. Leading the charge are major altcoins, such as Ethereum (ETH), Litecoin (LTC) and Monero (XMR), which were among the biggest losers earlier this week.
Ripple gains have been supported by a significant uptick in market activity. The coin’s daily trading volume rose to nearly $300 million on Wednesday, a big improvement from the $200 million generated in the previous session. The higher volume was largely the result of a spike in trading activity on a lesser-known crypto exchange called ZB.com, which processed nearly a fifth of all trades on Wednesday. According to data from digital currency tracker Coinmarketcap, the Hong Kong-based exchange currently accounts for 19.5% of Ripple’s 24-hour trading volume of $289 million.
In today’s trading, the Ripple price stood at $0.273, as of 13:15 BST. The digital coin has gained 5.8% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $10.8 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.