The Ripple price (XRP/USD) has managed to regain some of the ground it lost on Tuesday, benefiting from a market-wide uptrend that persisted throughout most of today’s morning session.
The second-largest digital currency on the market saw significant losses yesterday, even though it showed great resilience in big portions of the session. The coin made a tentative attempt to test the $0.50 mark in the early hours of the session, when its price rose to an intraday high of $0.496. However, the token experienced a sharp drop later in the morning session, which brought its price down to a one-month low of $0.423, according to data from digital currency tracker Coinmarketcap. While the coin bounced back swiftly after the drop, it wasn’t able to fully recover from the slump. Having lost its early momentum, Ripple spent most of the afternoon session on a downward trajectory and eventually finished the day at $0.434. This was significantly lower than the opening price of $0.480 and was also Ripple’s lowest close since October 14.
Ripple resume its advance in today’s early trading, mirroring a similar trend observed across the digital currency market. This steady advance lifted the Ripple price to an intraday high of $0.456 during the morning session. The coin has seen a pullback in more recent trading, but for now remains well above the level of its Wednesday close.
Meanwhile, Ripple continues to see strong market activity, although trading appears to have cooled down somewhat. In the past two sessions, Ripple’s daily trading volume surpassed $1 billion, reaching $1.5 billion yesterday. According to recent market data, Ripples 24-hour trading volume currently stands at $1.13 billion.
In today’s trading, the Ripple price stood at $0.443, as of 13:20 GMT. The digital coin has lost 1.2% of its value in the past 24 hours and its market cap currently stands at $17.9 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.