The Ripple price (XRP/USD) has seen significant gains on Wednesday, benefiting from an uptrend observed across the wider crypto market.
The digital currency had a mostly lacklustre session on Tuesday, as it spent the better part of the day trading below the $0.35 mark. However, the situation changed dramatically in the final hours of the session, when the coin saw an unexpected surge that lifted its price above the $0.46 level. As a result, Ripple rose to an intraday high of $0.367 and eventually finished the day at $0.360.
Ripple resumed its advance in the early hours of today’s trading and moved within striking distance of the $0.38 level. The coin rose to as high as $0.379, before pulling back to lower levels. The coin has managed to defend the $0.37 level in subsequent trading.
At current price levels, XRP continues to be second-largest cryptocurrency on the market and has over $3-billion lead in terms of total market cap over Ethereum (ETH). The coin has held the second place for 13 days now, which matches XRP’s longest ever stretch as No. 2, which was posted in early 2016. Given Ripple’s substantial lead over its closest competitor, it appears that XRP is about to set a new record on that front.
Meanwhile, Ripple has seen a modest improvement in terms of market activity. According to recent market data, some $652 million worth of XRP tokens have changed hands over the past 24 hours. This is higher than the $600 million generated on Tuesday.
In today’s trading, the Ripple price stood at $0.375, as of 12:52 GMT. The digital coin as gained 7.9% in the past 24 hours, according to data from digital currency tracker Coinmarketcap. Its total market cap currently stands at $15.1 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.