The Ripple price (XRP/USD) has reached a near one-week high on Monday after experiencing a big surge in late morning trading.
Ripple performed well over the weekend, but it lacked the necessary momentum to challenge the $0.45 mark in a significant way. After rising to an intraday high of $0.448 level on Sunday afternoon, the digital coin eventually finished the session at $0.445, up from its opening level of $0.439.
After trading around this level for most of today’s morning session, Ripple experience a sharp increase that allowed it to break through the $0.45 barrier. The coin hit an intraday high of $0.465 in early afternoon trading, which was also its highest price level since July 10, according to data from digital currency tracker Coinmarketcap. The Ripple price has pulled back in more recent trading and is currently trading around the $0.46 level.
Ripple’s surge mirrors a larger upswing seen across the wider digital currency market. All of Ripple’s chief rivals, such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), has experienced similar price jumps after a relatively quiet morning. The market as a whole has gained over $10 billion in just a few hours.
Meanwhile, Ripple also appears to be enjoying stronger market activity on Monday. The coin’s current 24-hour trading volume of $214 million is significantly higher than the $152-million volume that was generated on Sunday. Japan’s Bitbank crypto exchange remains the most popular destination for Ripple trading, having captured 18.6% of the that volume.
In today’s trading, the Ripple price stood at $0.461, as of 14:43 BST. The digital coin has gained 3.7% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $18.1 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.