Ripple price (XRP/USD) struggles to defend $0.90

The third-largest cryptocurrency trades sideways on Monday

Ripple price (XRP/USD) struggles to defend $0.90

The Ripple price (XRP/USD) has seen a decline in the past couple of sessions, as it has struggled to hold above the $0.90 mark.

The third-largest cryptocurrency on the market has performed strongly over the past 10 days, benefiting from improved market sentiment and news that banking giant Banco Santander had launched a cross-border payment app using Ripple’s xCurrent product. However, the digital coin’s rally seems to have come to a pause, with its price peaking at a seven-week high of $0.938 on Friday. Since then, the cryptocurrency has largely struggled to remain above the $0.90 mark, even though it closed the Friday session at $0.924. It fell to as low as $0.821 on Saturday, before bouncing back to finish the day at $0.873. The cryptocurrency continued to flirt with the $0.90 level on Sunday, but, ultimately, it wasn’t able to secure a stable position above that mark.

Ripple has been trading sideways on Monday, stuck in the range of $0.86 to $0.89. According to data from cryptocurrency tracker Coinmarketcap, the Ripple price is currently hovering around $0.87, slightly higher than yesterday’s close of $0.869.

While Ripple continues to enjoy significant market activity, although it has seen a notable decline in terms of trading volume. Recent data shows that around $783 million worth of XRP tokens have been traded in the past 24 hours, with South Korea’s Bithumb exchange accounting for 22% of that volume. Fellow South Korean platform Upbit captures nearly 12% of the trades, while Japanese exchange Bitbank comes in third with an 8.9% share.

In today’s trading, the Ripple price stood at $0.878, as of 15:00 BST. The digital coin has lost 1.6% of its value in the past 24 hours. The coin’s total market capitalisation currently stands at $34.3 billion.

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

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