Ripple price (XRP/USD) pulls back from Wednesday highs

The digital coin sees big surge in trading volume

Ripple price (XRP/USD) pulls back from Wednesday highs

The Ripple price (XRP/USD) has pulled from the one-week high it reached on Wednesday.

The third-largest digital currency on the market experienced some lacklustre trading on Wednesday morning, as its price dropped below the $0.31 mark. The situation changed dramatically in the early afternoon, when a sudden spike propelled its price to a one-week high of $0.320. However, the token quickly ran out of steam and gradually descended towards lower levels. XRP finished the session at $0.314, up from its opening price of $0.310.

Ripple has been moving mostly sideways since the start of today’s session, with its price hovering around the $0.315 mark. At the time of writing, Ripple was trading slightly below the level of its Wednesday close.

Meanwhile, Ripple has enjoyed a significant improvement in terms of trading volume. Ripple’s daily trading volume reached $827.1 million on Wednesday, which was significantly higher than the $581.1 million generated in the preceding session. Recent market data shows that some $874 million worth of XRP tokens have changed hands over the past 24 hours.

There have been some positive developments around Ripple this week. On Tuesday, the world’s largest digital currency exchange Binance announced that its official crypto wallet was adding support for XRP. Also on Tuesday, it was announced that Ripple’s Xpring programme is teaming up with a blockchain gaming start-up Forte to launch a $100-million fund aimed at supporting developers of blockchain-based games. The $100 million will be provided by Ripple.

In today’s trading, the Ripple price stood at $0.313, as of 12:26 GMT. The digital coin has gained 0.5% in the past 24 hours, data from cryptocurrency tracker Coinmarketcap shows. The coin’s total market capitalisation currently stands at just below $13 billion.

For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.

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