Ripple price (XRP/USD) hits five-week low on Tuesday

The Ripple price (XRP/USD) has hit its lowest level in more than a month in what has been a largely disappointing Tuesday trading session for the No.2 digital coin.

The digital currency had to endure some nervous trading yesterday, as its price was experiencing fluctuation throughout the session. Having started the day at $0.321, the digital coin saw modest gain in the early hours of trading, rising to as high as $0.322. XRP revisited this level several times during the day, each time failing to progress further. In-between, the coin experienced several dips, including a drop to an eight-day low of $0.317. The token eventually finished the session at $0.320.

So far today, Ripple’s performance has been even poorer, as the coin has been moving on a mostly downward trajectory since the start of the session. The coin has seen a bit of positive price action in recent trading, rebounding from a five-week low of $0.313. At the time of writing, the Ripple price was hovering around the level of its January 21 low, according to data from digital currency tracker Coinmarketcap.

Meanwhile, the market activity seems to have improved from yesterday, when Ripple poste daily trading volume of just under $364 million. Recent market data shows that, over the past 24 hours, global crypto exchanges have processed some $403 million worth of XRP trades. It’s worth noting that this figure does not include over $80 million of volume that has been generated on the BitMax exchange.  

In today’s trading, the Ripple price stood at $0.317, as of 14:16 GMT. The digital coin has lost almost 1% of its value in the past 24 hours, Coinmarketcap data shows. Its total market capitalisation currently stands at just over $13 billion.

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