Ripple price (XRP/USD) falls in downbeat Tuesday market

on Oct 3, 2017

The Ripple price (XRP/USD) has mostly been subdued in today’s trading, following a downward trend observed across the broader cryptocurrency market. While the third-largest digital coin on the market rose to an intraday high of $0.204 in early trading, it has remained below the $0.20 mark for the most of the day. Nevertheless, Ripple has performed better than most digital currencies over the past 24 hours, falling about 1% over that period.

Ripple continues to experience thin market volumes. Just over $54 million worth of XRP tokens have been exchanged over the past 24 hours, which is largely in line with the cryptocurrency’s daily trading volume levels during the weekend.

Ripple is again being traded primarily on South Korean exchanges. The country’s largest cryptocurrency trading platform Bithumb accounts for 39.2% of the total market activity, while local peers Coinone and Korbit 10.2% and 8.1%. Meanwhile, Poloniex captures around 11.7% of the market across two trading pairs – XRP/BTC and XRP/USDT.

In recent Ripple news, a California-based company called Ripple Exchange has teased the upcoming announcement of a “new XRP gateway”. Ripple Exchange did not go into details about the nature of the project, but the company’s name suggests that it would probably be a new platform for trading Ripple. The Ripple Exchange said that the project would be showcased later this month.

In today’s trading, the Ripple price stood at $0.199, as of 17:00 BST. The cryptocurrency has lost $1.5 percent of its value over the past 24 hours.