Ripple price (XRP/USD) edges lower as rally runs out of steam

The digital coin remains well above the key $0.50 level

Ripple price (XRP/USD) edges lower as rally runs out of steam

The Ripple price (XRP/USD) has edged lower on Wednesday amid weaker market activity.

The third-largest digital currency on the market was the standout performer in the crypto top 10 on Tuesday, as it gained more than 10% during the session. The coin’s experienced some strong positive action in the morning session, which allowed it to notch up a more than one-month high of $0.560. At that point, Ripple became more valuable than crypto rival Ethereum (ETH), though its spell as the second-largest digital coin in the world was rather brief.

While Ripple pulled back from this level in the afternoon, it still finished the day deep in the positive territory. The coin closed the session at $0.549, notching up its first close above the $0.50 mark since October 5.

Ripple has seen some ups and downs in today’s trading, but the coin has remained well above the $0.50 level. The token fell to an intraday low of $0.524 in the early hours of the session, but it has managed to mitigate its loss in subsequent trading. At the time of writing, the Ripple price was hovering around $0.53, according to data from digital currency tracker Coinmarketcap.

Ripple’s Tuesday rally was supported by strong market activity, as shown by the coin’s daily trading volume, which reached $1.3 billion. This was more than double the volume generated om Monday.

Recent market data shows that some $770 million worth of the cryptocurrency have changed hands over the past 24 hours. This suggests that the trading activity has weakened significantly during today’s session.

In today’s trading, the Ripple price stood at $0.529, as of 14:43 GMT. The digital coin has lost 0.4% 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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