Ripple price (XRP/USD) surge above $0.30 on Wednesday afternoon

The Ripple price (XRP/USD) has returned above the $0.30 level thanks to a big surge in today’s afternoon session.

The second-largest digital currency on the market had to endure a difficult session yesterday, as its price posted a new 2019 low. Having opened the session at $0.295, the digital currency dropped to $0.285 in the morning, hitting its lowest price level since December 15, according to data from digital currency tracker Coinmarketcap. The coin managed to pare its losses in the afternoon, but remained trapped below the $0.30 mark. It finished the session at $0.289.

XRP has so far seen some nervous trading on Wednesday, with its price swinging between gains and losses in the morning session. However, the coin has enjoyed a more significant advance in recent trading, which allowed it to return above the $0.30 mark. At the time of writing, the Ripple price was hovering around $0.305.

Last week, Ripple, the San Francisco blockchain start-up that developed the XRP token, published a report regarding XRP’s market performance in the fourth quarter of 2018. The company said that it had sold a total of $129.03 million worth of XRP tokens in the three months to December 31. Some $88.9 million were sold programmatically, while $40.15 million were purchased by institutional investors.

Meanwhile, XRP averaged daily trading volume of $595.7 million in the fourth quarter, which was its highest quarterly average since Q1 2018. Thirty new exchanges listed XRP in Q4, increasing the total of exchanges that list the token to over 100.

In today’s trading, the Ripple price stood at $0.305, as of 12:8 GMT. The digital coin has gained 5.5% in the past 24 hours, Coinmarketcap data shows. Its total market capitalisation currently stands at $12.6 billion.

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