The Ripple price (XRP/USD) has kept swinging between gains and losses after dropping below $0.34 on Monday.
The third-largest digital currency on the market had to endure some tough trading yesterday, as its price dropped below the $0.34 mark during the early hours of the session. Ripple tried to recoup its losses and even revisited the $0.34 level in the afternoon, but frequent price fluctuations and thin trading volumes prevented it from gaining enough positive momentum. The digital coin finished the session at $0.335, significantly lower than its opening level of $0.343.
The digital currency made another attempt to reclaim the $0.34 level in today’s early trading, but its advance hit a wall at $0.338. Since then, Ripple has seen a number of minor price swings, but has remained relatively close to its Monday closing level.
Ripple’s lack of momentum could be due to the coin’s low market activity. Yesterday the coin generated daily trading volume on only $201 million, significantly lower than the $250 million it averaged over the weekend.
Recent market data suggests that Ripple has seen some improvement in that regard in today’s trading. The data shows that some $221 million worth of XRP tokens have changed hands over the past 24 hours. Singapore-based crypto exchange Huobi retains its position as the most popular destination for Ripple trading, having captured 18.1% of that volume. European crypto exchange HitBTC ranks second with 13.4%, while Binance comes in at third place with a 11.6% share
In today’s trading, the Ripple price stood at $0.339, as of 13:23 BST. The digital coin has gained 0.7% in the past 24 hours, according to data from digital currency tracker Coinmarketcap. The coin’s market cap currently stands at nearly $13.5 billion.