Ripple price (XRP/USD) swings as trading volume continues to decline

The third-largest crypto struggles to stay above $0.46

Ripple price (XRP/USD) swings as trading volume continues to decline

The Ripple price (XRP/USD) has swung between gains and losses during a rocky 24 hours and amid a significant drop in trading volumes.

The third-largest digital currency on the market had a good start on Sunday, with its price rising to an intraday high of $0.463 in the early hours of the session. However, the coin’s performance was subsequently hindered by major fluctuations that eventually pushed its price into the red. The coin revisited the $0.463 level twice during the afternoon trading hours, but it ultimately failed to defend the $0.46 mark. XRP finished the session at $0.456, down from its opening level of $0.458.

The digital coin continued to move on a downward trajectory during today’s morning trading, when its price fell to an intraday low of $0.451. However, XRP has managed to pare most of its losses in more recent trading. At the time of writing, the Ripple price was hovering around the level of yesterday’s close, according to data from digital currency tracker Coinmarketcap.

Market activity has taken a significant hit, with Ripple’s current 24-hour trading volume standing at around $260 million. However, this figure does not take into account more than $140 million of combined trading volume from crypto exchanges including Hong Kong-based and South Korean major Bithumb and several lesser-known exchanges.

The world’s largest digital currency exchange Binance has made the biggest contribution to the $260-million figure, as it has generated just over 12% of that volume. With its share of 6.9% Japanese crypto trading platform Bitbank has remained a distant second.

In today’ trading, the Ripple price stood at $0.454, as of 13:53 BST. The digital coin has lost 1.5% of its value in the past 24 hours, Coinmarketcap data shows.

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

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