Ripple price (XRP/US) struggles amid frequent fluctuations

Thin trading volumes also hurt cryptocoin’s performance on Monday

Ripple price (XRP/US) struggles amid frequent fluctuations

The Ripple price (XRP/USD) has failed to defend is weekend gains, as its performance has suffered amid thin trading volumes and frequent fluctuations.

The third-largest digital coin enjoyed some strong trading on Saturday, which allowed it to revisit the $0.35 mark in the final hours of the session. Despite experiencing frequent price fluctuations the digital coin maintained a clear upward trajectory throughout the day. Its advance accelerated in late Saturday trading, with is price rising to a three-day high of $0.352. The coin eventually finished the session at $0.347, up from its opening level of $0.335.

Ripple continued to experience price fluctuations in the following session and this time the swings had a negative impact on the coin’s performance, hindering its momentum. The coin made several unsuccessful attempts to reclaim the $0.35 mark, before entering negative territory and notching up a close of $0.342.

Ripple faced similar problems in today’s morning session, with its price giving in to strong selling pressure amid nervous trading. The digital currency fell to an intraday high of $0.334 in the morning, according to data from digital currency tracker Coinmarketcap. However, its performance has improved in the afternoon, allowing Ripple to recoup most of its earlier losses. At the time of writing, the Ripple price was hovering around $0.34.

Meanwhile, Ripple’s 24-hour trading volume has dropped below $200 million, suggesting that the coin is seeing subdued trading activity. With a share of just over 20% of the volume, Singapore-based crypto exchange Huobi has been the most popular destination for Ripple trading.

In today’s trading, the Ripple price stood at $0.341, as of 14:50 BST. The coin has gained 0.2% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $13.5 billion.

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

0 Brokers added for comparison:
Clear all