The Ripple price (XRP/USD) has edged lower following a poor start to the Wednesday trading session.
The third-largest digital currency on the market had a relatively quiet trading session yesterday, with its price mostly hovering below the $0.445 level. The digital coin enjoyed a strong start, rallying towards the $0.45 level in the early hours of the session. However, Ripple’s advance was short-lived, as the coin’s price started pulling back shortly after reaching an intraday high of $0.448. XRP continued moving on a downward trajectory until the late afternoon session, when its price experienced an uptick that allowed to finish the day in the positive territory. The coin finished the day at $0.444, up from its opening level of $0.419.
However, Ripple gave up these modest gains after seeing a steep decline in today’s early trading. The coin tested the $0.440 support on a couple of occasions during the morning session, but its price has so far managed to resist going below that mark. Still, the Ripple price has remained in the red and is currently hovering around the $0.42 mark, according to data from digital currency tracker Coinmarketcap.
Ripple has also seen a decline in terms of market activity, as suggested by is current 24-hour trading volume. According to recent market data, some $219 million worth of XRP tokens have changed hands over the past 24 hours. This compares with the nearly $246 million in XRP that were processed by global crypto exchanges on Tuesday.
In today’s trading, the Ripple price stood at $0.441, as of 13:25 BST. The digital coin has lost 0.8% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $17.75 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.