Ripple price (XRP/USD) hovers in tight range above $0.50 on Monday

Weaker market activity hinders XRP’s chances of advancing further

Ripple price (XRP/USD) hovers in tight range above $0.50 on Monday

The Ripple price (XRP/USD) has remained relatively stable during the weekend, as it has defended the $0.50 level with relative ease.

The digital currency had a lacklustre session on Sunday, with its price mostly moving within a tight range above the $0.50 mark. The digital coin dropped to an intraday low of $0.496 in the early afternoon, but it managed to rebound in subsequent trading. Eventually the coin finished the session at $0.505, slightly lower than its opening level of $0.506.

The Monday session has brought more of the same, with Ripple being able to defend the $0.50 mark quite comfortably, but not having enough momentum to advance to higher levels. The coin saw a couple of minor drops in the morning session, but, apart from that, it has been stable. At the time of writing, the Ripple price was hovering around the level of yesterday’s close, according to data from digital currency tracker Coinmarketcap.

Meanwhile, Ripple has seen a significant decline in market activity. The coin averaged daily trading volume of around $300 million over the weekend, compared to daily volume of around $500 million that was generated on Friday.

Recent market data shows that the coin’s 24-hour volume currently stands at $327 million. However, this figure, compiled by Coinmarketcap, does not take into account over $140 million in XRP trades that have been processed by lesser-known crypto exchange ZBG.

In today’s trading, the Ripple price stood at $0.507, as of 14:02 GMT. The digital coin has gained just over 1% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $20.4 billion, which makes it the third-largest digital currency on the market, behind Bitcoin (BTC) and Ethereum (ETH).

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

0 Brokers added for comparison:
Clear all