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XRP rebounds from one-week low on Wednesday

Benson Toti

The third-largest digital currency on the market, XRP, has hit a one-week low on Wednesday, as poor trading has dominated the digital currency market over the past 24 hours.

Early struggles

Having opened at an intraday high of $0.322, XRP spent the better part of yesterday’s session moving on a downward trajectory. The digital coin dropped below the $0.31 mark in the afternoon, with its price falling to around $0.308. XRP had a short positive spell towards the end of the session, when it touched the $0.315 level, but one final slump brought its price down to a close of $0.309.

The digital currency saw further losses in today’s morning session, tumbling to as low as $0.305. This was XRP’s lowest price level since July 17, according to data from digital currency tracker Coinmarketcap. The coin’s performance has improved in the afternoon, allowing XRP to recapture the $0.31 mark.

Market rebounds after tough morning trading

The broader digital currency market has also seen some downswings over the past 24 hours, with most major digital currencies having suffered negative price action. However, just like XRP, the market has managed to recover some of its earlier losses in recent trading. Bitcoin (BTC), for example, is currently trading at around $9,850, having bounced back from a six-day low of $9,634.45. Other major digital coins, including as Litecoin and Ethereum, have seen solid gains over the past 24 hours. EOS has been by far the best performer in the crypto top 10, having gained more than 9% over that period.

In today’s trading, the XRP price stood at $0.314, as of 16:00 BST. The digital currency has gained 1.1% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at nearly $13.5 billion.

Featured image: Prov910 /Shutterstock.com

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