Real Time Cryptocurrency News & Analysis

Ripple price (XRP/USD) edges higher as crypto market improves after disappointing start

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The Ripple price (XRP/USD) has edged higher in today’s trading, despite posting early losses, as part of a larger decline observed across the cryptocurrency market.

The digital currency suffered significant losses in yesterday’s afternoon trading, mirroring a larger trend affecting the digital currency market. The digital coin finished the session at $0.667, significantly lower than its opening price level of $0.713.

Ripple saw further losses in the early hours of today’s trading, falling to an intraday low of $0.653. However, the cryptocurrency has seen a rebound in subsequent trading, allowing it to enter positive territory for the day. At the time of writing, the Ripple price was hovering around $0.67, according to data from cryptocurrency tracker Coinmarketcap.

In terms of market activity, Ripple continues to experience thin trading volumes. Recent market data shows that, in the past 24 hours, just over $360 million worth of XRP tokens have changed hands on the global crypto trading platforms. This is comparable to the $338 million of trading volume generated in yesterday’s session.

Japanese crypto exchange Bitbank has retained its position as the most popular destination for XRP trading, but it is closely followed by Chinese exchange operator Huobi. The two platforms have captured 13.9% and 13.8% of the 24-hour trading volume, respectively. Meanwhile, South Korea’s Bithumb exchange and China’s OKEx platform are virtually tied for the third place, with about 10% each.

In today’s trading, the Ripple price stood at $0.671, as of 13:24. The digital currency has lost 3.5% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $26.3 billion, which makes it the third most valuable cryptocurrency on the market after Bitcoin (BTC) and Ethereum (ETH).

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

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