Ripple price (XRP/USD) edges lower following strong Monday finish

The cryptocurrency’s brief stint above $0.60 ends on Tuesday

Ripple price (XRP/USD) edges lower following strong Monday finish

The Ripple price (XRP/USD) has edged lower in today’s trading, despite ending the Monday session on a high note.

Ripple had a lacklustre morning session yesterday and continued to struggle during the early afternoon session. Having opened at $0.586, the digital currency hit an intraday low of $0.568 at roughly 16:40 BST. However, this also marked the beginning of a steady advance, which persisted throughout the rest of the session and allowed the coin to return above the $0.60 mark and finish the day in the positive territory. According to data from cryptocurrency tracker Coinmarketcap, Ripple closed the Monday session at an intraday high of $0.604.

Yet, Ripple has been unable to build upon yesterday’s strong finish. Following a drop at the start of today’s trading, the digital currency has been mostly trading below the $0.60 barrier. At the time of writing, the Ripple price was hovering around $0.59.

Ripple’s performance has likely been hindered by thin trading volumes. The market activity continues to be subdued, with Ripple’s 24-hour volume currently standing at around $274 million. Nearly 20% of that volume have been captured by Japanese crypto exchange Bitbank, which remains the most popular destination for Ripple trades. OKEx ranks second with a 11.1% share, while South Korea’s largest digital currency exchange, Bithumb, has claimed the third place with 9.6%. The platform is closely followed by Binance, which accounts for roughly 9% of all trades.

In today’s trading, the Ripple price stood at $0.594, as of 12:52 BST. The digital coin has gained 2.1% in the past 24 hours, Coinmarketcap data shows. The coin has total market capitalisation of $23.3 billion, which makes it the third-largest cryptocurrency on the market, behind Bitcoin (BTC) and Ethereum (ETH).

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

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