The Ripple price (XRP/USD) has fallen to its lowest level in over two weeks amid a market-wide cryptocurrency correction.
The digital coin enjoyed some positive price action during the early hours of yesterday’s session, which allowed XRP to reach a 12-day high of $0.381. However, soon after that the Ripple price pulled back sharply, amid a market-wide slump affecting most major crypto coins. As a result, XRP hit its lowest price level since December 18 at $0.327. The coin spent the rest of the session hovering around the $0.33 mark and eventually finished the day at $0.332. This was well below XRP’s opening level of $0.371.
While, XRP has seemingly stopped the bleeding for now, its price has been far from stable on Friday, with its price swinging between gains and losses. The coin revisited the $0.327 mark in the morning, but then immediately rebounded, rising to as high as $0.337. Things appear to have calmed down in the afternoon with the price settling down just above the $0.33 mark.
The market activity also seems to have quieted down on Friday. Amid the significant selling pressure yesterday, Ripple’s daily trading volume surged to $839.5 million, nearly double the $456 million generated in the preceding session. However, recent market data shows that the coin’s 24-hour volume currently stands at just over $578 million, suggesting that market activity has returned to more familiar levels. ZB.com has been the most popular destination for Ripple trading, having captured 10.4% of the that volume.
In today’s trading, the Ripple price stood at $0.333, as of 14:18 GMT. The digital coin has lost 3.2% of its value in the past 24 hours. Its total market cap currently stands at $13.7 billion.