The Ripple price (XRP/USD) has experienced some challenging trading conditions after it failed to maintain the positive momentum it had gained in the early Wednesday session.
The second-largest digital currency on the market had a difficult session yesterday, as its performance was significantly hindered by frequent price fluctuations. After experiencing a drop to $0.416 – its lowest price level since October 15 – shortly after the start of the session, the coin took the offensive, rallying toward the $0.45 mark. The coin hit an intraday high of $0.456, but it wasn’t able to sustain trading at this level for long. The coin experienced a few ups and downs in the afternoon session and eventually finished the day at $0.447. While this was still well above the opening level of $0.436, Ripple’s performance in the afternoon signalled that the coin had lost its momentum.
The Thursday session has so far been far from positive for Ripple, as, barring the occasional spike, the coin has been on a downward trajectory pretty much from the start of the session. At the time of writing, the Ripple price was hovering near the $0.43 mark, according to data from digital currency tracker Coinmarketcap.
At the same time, Ripple has seen significant downturn in terms of market activity. Recent market data shows some $562 million worth of XRP tokens have changed hands over the past 24 hours. This figure is significantly lower than the $858 million generated yesterday, which was already a big drop-off from Tuesday’s $1.5 billion.
In today’s trading, the Ripple price stood at $0.424, as of 13:36 GMT. The digital coin has lost 1.6% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $17.5 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.