The Ripple price (XRP/USD) has reclaimed the $0.45 mark after seeing a slow, but steady, advance on Tuesday.
The digital currency experienced a sharp price jump in yesterday’s early trading, amid a larger cryptocurrency surge. Having started the session at $0.401, the digital coin rose to as high as $0.472, a five-day high, in yesterday’s early trading. While Ripple pulled back in subsequent trading, the digital currency still managed to finish the session well above its opening level, as it notched up a close of $0.447.
While yesterday’s spike was seemingly prompted by a sell-off the stablecoin Tether (USDT), Ripple has remained stable in today’s trading, taking advantage of the unexpected boost it received yesterday. At the time of writing, the Ripple price was hovering around $0.455, according to data from digital currency tracker Coinmarketcap.
In terms of market activity, Ripple trading appears to have quieted down on Tuesday. The coin saw a huge increase in daily trading volume on Monday, with some $1 billion worth of XRP tokens changing hands during the session. In contrast, Ripple’s 24-hour trading volume currently stands at just over $600 million. The world’s largest digital currency exchange, Binance, has been the most popular destination for Ripple trading in that period, with some 16.5% of the volume. Japanese trading platform Bitbank remains second with a 12.4% share.
Meanwhile, XRP/USDT has been the most popular trading pair, accounting for over a third of Ripple’s 24-hour trading volume.
In today’s trading, the Ripple price stood at $0.453, as of 13:41 BST. The digital coin has gained just over 1% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $18.1 billion, which makes it the third-largest digital currency on the market.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.