The Ripple price (XRP/USD) has seen significant swings in today’s trading, as the wider cryptocurrency market attempts to recover from its latest slump.
Ripple experienced a sharp decline yesterday, which led to the cryptocurrency hitting a five-day low of $1.16. However, in the latter part of the session, the coin was able to limit its losses and finish the day at $1.36.
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Ripple had a rough morning session, falling to an intraday low of $1.21. But the cryptocurrency has again managed to bounce back in the afternoon and, according to data from cryptocurrency tracker Coinmarkecap, it is now trading just slightly below its Monday close. At the time of writing, Ripple was the best–performing top 10 cryptocurrency in the past 24 hours, with a gain of over 7%.
Ripple’s 24-hour trading volume of $2.8 billion makes it one of the most-traded cryptocurrencies at the moment. Around 63% of all XRP trades have taken place on four South Korean exchanges – Bithumb, Upbit, Coinone and Korbit. Coinmarketcap continues to exclude prices from those platforms, but takes into account their trading volume data.
The South Korean financial watchdog announced earlier today that anonymous cryptocurrency trading in the country would be halted on January 30 and users would be required to switch to real-name accounts if they want to continue trading virtual coins.
In today’s trading, the Ripple price stood at $1.32 GMT. The digital coin has gained 7.8% in the past 24 hours, Coinmarketcap data shows.