Real Time Cryptocurrency News & Analysis

Ripple price (XRP/USD) edges lower amid cryptocurrency downtrend

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The Ripple price (XRP/USD) has seen some losses in today’s trading amid a downtrend affecting the wider cryptocurrency market.

The third-largest cryptocurrency on the market was seemingly stable during the better part of yesterday’s session, trading around the $0.68 level. However, the digital coin experienced a decline in late trading, which pulled its price down to an intraday low of $0.673. While a small uptick just before the end of the session allowed Ripple to finish the day at $0.678, the coin hasn’t been able to continue its advance in today’s session.

Ripple managed to inch higher in today’s early trading, reaching an intraday high of $0.679, but the coin has been mostly on a steady decline since then. It has only recently picked up slightly, bouncing off a low of $0.660. At the time of writing, the Ripple price was hovering just above the $0.66 level, according to data from cryptocurrency tracker Coinmarketcap.

Ripple’s performance today appears to be in line with a larger cryptocurrency trend. Many of Ripple’s biggest crypto rivals, including Bitcoin (BTC), Ehereum (ETH) and Litecoin (LTC), are trading in the negative territory today, having experienced losses over the past 24 hours.

Meanwhile, Ripple continues to experience subdued market activity, with its 24-hour trading volume currently standing at just over $230 million. Japanese crypto trading platform Bitbank remains the most popular destination for XRP trading, having captured 19.5% of that volume. The world’s second largest crypto exchange, Binance, ranks second with a 15.8% share, while its larger rival OKEx claims the third place with 14.4%.

In today’s trading, the Ripple price stood at $0.663, as of 14:04 BST. The digital coin has lost 2.85 of its value in the past 24 hours. Its total market capitalisation currently stands at just over $26 billion.

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

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