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Ripple price (XRP/USD) falls following Wednesday afternoon slump

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The Ripple price (XRP/USD) has seen some significant losses over the past 24 hours, mirroring a trend observed across the wider digital currency market

The third-largest digital currency on the market had a difficult session yesterday, despite getting off a good start. The Ripple price spiked to an intraday high of $0.350 in the early hours of the session, mirroring a similar movement in the prices of Bitcoin and other crypto coins. However, that remained the only bit of positive price action for the coin, as by the end of the session it had given up all of its early gains. Ripple’s performance took a significant hit in the afternoon, with its price tumbling to an intraday low of $0.316, according to data from digital currency tracker Coinmarketcap. The coin eventually finished the session at $0.319, down from its opening level of $0.334.

Ripple has made a couple of attempts to recover its Wednesday losses in today’s trading, but so far it hasn’t had much success. The coin hit an intraday high of $0.326 in the morning, but has since been unable to further its rally. Its advance may have been hindered by subdued market activity. Recent market data shows that some $252 million worth of XRP tokens have changed hands in the past 24 hours. This is lower than the $286-million trading volume generated by global cryptocurrency exchanges on Wednesday.

Japanese crypto exchange Bitbank is currently the most popular destination for XRP trading, as it has captured the largest share of the current 24-hour volume – 15.6%.

In today’s trading, the Ripple price stood at $0.322, as of 15:41 BST. The digital coin has lost 4.7% of its value in the past 24 hours, Coinmarketcap data shows.

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

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