Ripple price (XRP/USD) pulls back amid subdued trading volumes

on Dec 13, 2018
Updated: Oct 11, 2019

The Ripple price (XRP/USD) has edged lower after failing to secure a decisive break above the $0.31 mark on Wednesday.

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The second-largest digital currency on the market enjoyed some positive price action yesterday amid an uptrend affecting the broader crypto currency market. The digital coin advanced steadily throughout most of yesterday’s session, which allowed it to test the $0.31 mark on several occasions. However, the coin faced stiff resistance around that level and only managed to go as high as $0.311. After experiencing a pull-back in late trading, Ripple finished the session at $0.307, up from its opening level of $0.300.

XRP continued to decline in today’s morning session, with its price falling to as low as $0.303. The decline appears to be part of a market-wide price correction. The Ripple price is currently hovering around $0.305, according to data from digital currency tracker Coinmarketcap.

While Ripple posted solid games on Wednesday, its rally wasn’t supported by stronger market activity. On the contrary, the coin’s daily trading volume was just over $370 million, less than the $394 million generated in the preceding session. It seems that the market activity has weakened further during today’s session.

Recent market data shows that around $315 million worth of XRP tokens have changed hands over the past 24 hours. The Hong Kong-based crypto exchange has retained its position as the most popular destination for Ripple trading, having captured 10.6% of that volume. Japanese crypto trading platform Bitbank ranks second with an 8.1% share.

In today’s trading, the Ripple price stood at $0.349, as of 13:09 GMT. The digital coin has lost 0.9% of its value, Coinmarketcap data shows. The coin’s total market cap currently stands at nearly $12.5 billion.

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


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