The Ripple price (XRP/USD) has suffered losses on Wednesday amid a downward trend observed across the broader crypto market.
The second-largest digital currency on the market saw some positive price action yesterday, especially in the morning part of the session, when it surged toward the $0.46 level after hitting an intraday low of $0.342. However, Ripple’s performance over the next few hours showed that the coin was not ready to capitalise on that initial spike. While the token made an attempt to rally in the early afternoon trading, rising to as high as $0.361, it spent the rest of the session moving on a steady downward trajectory. The coin finished the session at $0.352, up from its opening level of $0.348.
Ripple declined further in today’s early trading, with its price falling to an intraday low of $0.345, a level that the coin has revisited twice in subsequent trading. Ripple has made several attempts to reverse the downtrend, but hasn’t seen much success beyond the occasional brief uptick. At the time of writing, the Ripple price was hovering around $0.35, according to data from digital currency tracker Coinmarketcap.
Ripple’s performance has mirrored a larger downtrend that has affected the wider cryptocurrency market. Most major digital coins, including Bitcoin (BTC), Ethereum (ETH), Stellar Lumens (XLM) and Litecoin (LTC), have seen some losses over the past 24 hours. However, Bitcoin Cash (BCH) and EOS have been the biggest losers over that period, having lost, 7.8% and 7%, respectively.
In today’s trading, the Ripple price stood at $0.348, as of 15:03 GMT. The digital coin has lost 2.1% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at just over $14 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.