Ripple price (XRP/USD) holds above $0.70 on Wednesday

Ripple price (XRP/USD) holds above $0.70 on Wednesday
Written by:
Michael Harris
21st March 2018
Updated: 11th October 2019

The Ripple price (BTC/USD) has seen little change in today’s trading, though it has so far managed to defend the $0.70 mark and move slightly up from yesterday’s close.

The cryptocurrency experienced a significant uptick in the latter part of yesterday’s trading, benefiting from a strong uptrend that lifted the wider crypto market. However, the digital coin could not sustain the rally in the final hours of the session and finished the day at $0.709, down from its intraday high of $0.736.

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The Ripple price has remained relatively stable in today’s trading, despite edging lower earlier in the session. According to data from cryptocurrency tracker Coinmarketcap, the price is currently hovering around $0.71.

Meanwhile, the cryptocurrency has experienced a notable decline in terms of market activity. Coinmarketcap data shows that just over $600 million worth of XRP tokens have exchanged hands over the past 24 hours. The cryptocurrency’s daily volume reached $814 million on Tuesday.

Global trading continues to be dominated by South Korean exchanges, with Bithumb and Upbit leading the charge. The largest South Korean crypto exchange captures just over a quarter of the current 24-hour volume, while Upbit ranks second with 12.5%. The duo is followed by a number by a couple of Chinese platforms, Binance (7.5%) and Huobi (7.2%), the Hong Kong-based Bitfinex (8.1%) and Japan’s Bitbank (6.1%).

In today’s trading, the Ripple price stood at $0.711, as of 15:46 GMT. The digital currency has gained 1.7% in the past 24 hours, according to data from Coinmarketcap. Its total market capitalisation currently stands at $27.8 billion, which makes it the third-largest digital currency on the market, behind Bitcoin (BTC) and Ethereum (ETH).

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

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