Ripple price (XRP/USD) jumps to five-day high amid rocky trading

Ripple price (XRP/USD) jumps to five-day high amid rocky trading

The Ripple price (XRP/USD) has hit a five-day high in an otherwise rocky Wednesday session, marked by frequent fluctuations.

The third-largest digital currency on the market had to overcome an early slump that led to its price hitting a one-week low of $0.307. The digital coin managed to bounce back in the late morning session, rising to as high as $0.311. However, XRP wasn’t able to continue its advance during the afternoon trading hours, as its momentum was constantly hindered by frequent, albeit minor, price fluctuations. The token finished the session at $0.310, slightly lower than its opening price of $0.311.

Today’s trading has been just as rocky for Ripple, with the coin having been swinging between gains and losses since the start of the session. XRP tumbled to as low as $0.308 in late morning trading, but has managed to bounce back in more recent trading, signalling that it may be able to overcome its earlier struggles in the afternoon. At the time of writing, Ripple was trading at a five-day high near the $0.32 mark.

In other XRP-related news, Binance’s official wallet, Trust Wallet, is adding support for the token. As reported by industry website Coindesk, Binance announced the move yesterday, while also unveiling that the wallet would support buying digital currencies with credit cards. This means that Trust Wallet users are now able to buy Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and Bitcoin Cash (BCH) with “major” credit and debit cards.

In today’s trading, the Ripple price stood at $0.317, as of 13:35 GMT. The digital coin has gained 2.4% in the past 24 hours, according to data from digital currency tracker Coinmarketcap. Its total market capitalisation currently stands at $13.1 billion.

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By Michael Harris
Specialising in economics by academia, with a passion for financial trading, Michael Harris has been a regular contributor to Invezz. His passion has given him first hand experience of trading, while his writing means he understands the market forces and wider regulation.
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