Home » Cryptocurrency » Ripple price (XRP/USD) edges higher despite failing to defend early Wednesday gains

Ripple price (XRP/USD) edges higher despite failing to defend early Wednesday gains

Dimitar Bogdanov
  • August 22nd, 16:40
  • Last Updated: October 17th, 09:19

The Ripple price (XRP/USD) has enjoyed solid gains over the past 24 hours, in part thanks to a big surge that occurred in today’s early trading.

The digital currency enjoyed some strong trading yesterday, which allowed it to recover following the major slump that hit the cryptocurrency market on Monday. The coin rose to an intraday high of $0.338, before closing he session at $0.335, up from its opening level of $0.318.

The Ripple price spiked in the early hours of today’s trading, rising to as high as $0.350 shortly after the start of the session. The spike coincided with a similar surge in the price of Bitcoin, which some observers attributed to cryptocurrency exchange BitMex temporary going offline as part of a scheduled maintenance.

BitMex is not among the major venues for Ripple trading, according to data from digital currency tracker Coinmarketcap. Currently, the most popular destination for XRP trading is Binance, which has captured 14.7% of the $243 million worth of XRP tokens that have changed hands over the past 24 hours. Japanese crypto trading platform Bitbank has remained a close second, having captured 14.5% of all trades over the same period. Europe’s HitBTC platform complete the top 3 with a 10% share.

The Ripple price has seen a significant pullback in recent trading after failing to defend its earlier gains. Still, the digital coin has managed to hold above the level of its yesterday’s close.

In today’s trading, the Ripple price stood at $0.337, as of 16:39 BST. The digital coin has gained 2.5% in the past 24 hours, Coinmarketcap data shows. It currently has a total market cap of nearly $13.3 billion, which makes it the third most valuable digital coin on the market.

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

About the author

Dimitar Bogdanov
Dimitar Bogdanov
I have been a journalist for Invezz since 2012 and am one of the oldest on the team. My focus is on cryptocurrencies as well as general equity markets, although my experience is broad overall.

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