The Ripple price (XRP/USD) has hit a two-week low, as the wider cryptocurrency market has experienced an unexpected downturn on Monday.
The third-largest digital currency on the market saw some rocky trading over the weekend, with its price mostly trading below the $0.46 mark. The digital currency enjoyed a brief resurgence on Sunday, with is price spiking to a four-day high of $0.463 in late trading. The coin eventually closed the session at $0.462, up from its opening level $0.457.
Ripple’s late Sunday surge proved to be unsustainable, as the coin returned to sub-$0.46 levels shortly after the start of today’s trading. The digital coin continued to fall as the session progressed and its decline accelerated toward the end of the morning trading, when its price plunged below the $0.45 level. At the time of writing, the Ripple price was trading at two-week lows of around $0.437, according to data from digital currency tracker Coinmarketcap.
Ripple’s sudden plunge appears to be part of a larger downturn that has hit the broader cryptocurrency market. Most major digital coins have seen significant losses in recent trading, including Bitcoin (BTC), which has dropped below the $6,400 mark for the first time in two weeks. Meanwhile, Bitcoin’s largest competitor, Ethereum (ETH) has also hit a two-week low, falling below the $200 mark for the first time since October 15. Litecoin has been the worst performing top 10 digital coin, as its price has fallen nearly 6% in the past 24 hours, largely as a result of today’s drop.
In today’s trading, the Ripple price stood at $0.441, as of 13:07 GMT. The digital coin has lost 3.4% over the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $17.7 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.