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Ripple price (XRP/USD) sees further losses on Wednesday

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The Ripple price (XRP/USD) has seen significant losses amid another lacklustre session for the wider cryptocurrency market.

The third-largest digital currency on the market has mostly been on a downward trajectory since the start of yesterday’s session. Having opened at $0.490 on Tuesday, the virtual coin experienced a brief respite during the afternoon session, when it managed to held above the $0.47 mark. The coin finished the session at $0.479, up from its intraday low of $0.471.

However, Ripple’s decline resumed shortly after the start of today’s session, with the coin falling to as low as $0.464 in early trading. The token has since managed to edge higher, but has remained below the $0.47 barrier, according to data from digital currency tracker Coinmarketcap.

Ripple’s decline coincides with a light downtrend affecting the broader cryptocurrency market. Most digital coins in the crypto top 10 have seen some losses over the past 24 hours, though in most cases, the declines haven’t exceeded 1%. At the moment, EOS is the only top 10 coin that has seen some, albeit modest, gains over that period.

Ripple has also seen significant decline in terms of market activity. Yesterday, the coin generated daily trading volume of $416.8 million, which was significantly lower than the $540.8 million processed by global crypto exchanges on Monday. Meanwhile, the coin’s 24-hour volume currently stands at just under $430 million, which suggests that today’s trading is broadly comparable with yesterday’s market activity. Binance remains the most popular destination for Ripple trading, having captured 15.1% of that volume.

In today’s trading, the Ripple price stood at $0.467, as of 14:02 BST. The digital coin has lost 1.7% of its value in the past 24 hours, Coinmarketcap data shows. Its total market cap currently stands at $18.6 billion.

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

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