Real Time Cryptocurrency News & Analysis

Ripple price (XRP/USD) drops after failing to secure break above $0.47 level

The Ripple price (XRP/USD) has seen major fluctuations on Thursday, swinging between gains and losses.

The third-largest digital currency on the market enjoyed some positive price action in yesterday’s morning session, with its price rising to a one-week high of $0.478. However, the virtual coin lost its momentum in the afternoon, which led to a drop to an intraday low of $0.460. Still, the coin saw a resurgence in the final hours of the session, which allowed it to pare most of its losses for the day. XRP finished the day at $0.468, down from its opening level of $0.469.

Following yesterday’s rocky session, Ripple has continued to swing between gains and losses in today’s trading. The coin revisited the $0.47 mark several times during the morning session, but it failed to secure a stable position above that mark. The coin has returned to sub-$0.47 levels following a steep drop that occurred in late morning trading. At the time of writing, the Ripple price was hovering around $0.465, according to data from digital coin tracker Coinmarketcap.

In terms of market activity, Ripple appears to have seen a significant drop in trading volume. Recent market data shows that some $411 million worth of XRP tokens changed hands over the past 24 hours. This is significantly less than the $526 million, generated during the Wednesday session. However, it should be noted Coinmarketcap’s volume data for the past 24 hours does not take into account most of the volume generated on the Hong Kong-based trading platform, particularly the volume generated by the XRP/ZB pair ($83 million). Data from South Korean major Bithumb has also been excluded.

In today’s trading, the Ripple price stood at $0.465, as of 13:29 BST. The digital coin has gained 0.3% in the past 24 hours.

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

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Click here for more information.