Ripple price (XRP/USD) recovers from six-month low following late Sunday surge

The third-largest crypto coin remains below $0.50

Ripple price (XRP/USD) recovers from six-month low following late Sunday surge

The Ripple price (XRP/USD) has recovered some of its Sunday losses, but it continues trading well below the $0.50 mark.

The third-largest cryptocurrency on the market had a tough session yesterday, especially in the early afternoon, when its price plunged to an intraday low of $0.450, which was its lowest level since December 13. However, this was followed by a sharp rebound, which propelled the Ripple price above the $0.47 barrier. While Ripple extended it run beyond the $0.48 mark, the coin ultimately finished the day in the red, due to experiencing a pullback in the final hours of the session. The digital currency closed the session at $0.477, down from its opening level of $0.491.

After a relatively quiet morning session, Ripple attempted to, once again, break above $0.48. The Ripple price experienced a solid increase earlier shortly after the start of the afternoon session, rising to an intraday high of $0.487. However, the price has since retreated toward lower levels. At the time of writing, Ripple was hovering around $0.475, according to data from cryptocurrency tracker Coinmarketcap.

Ripple’s trading volume reached $369.5 million on Sunday, the highest level in 10 days. Judged by XRP’s current 24-hour volume of $278 million, today’s market activity has been significantly weaker. Japanese crypto exchange Bitbank remains the most popular destination for Ripple trading, having captured nearly 22% of the 24-hour volume. The world’s second-largest digital currency exchange, Binance, follows with a 12.9% share, while OKEx ranks third with a 9.7% share.

In today’s trading, the Ripple price stood at $0.475, as of 13:54 BST. The digital currency has gained just over 2% in the past 24 hours, Coinmarketcap data shows. The coin’s market capitalisation currently stands at $18.6 billion.

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

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