The Ripple price (XRP/USD) has seen a rebound after hitting a two-month low near $0.30 on Sunday, but it has so far been unable to reclaim the $0.40 mark.
The second-largest digital coin on the market suffered significant losses on Saturday, as its price plunged below the $0.40 level amid a market-wide sell-off that dominated the final hours of the session. Until then the coin had enjoyed a stale session, having rallied to around $0.415 in the morning. However, the plunge in late trading sent the coin’s price to an intraday low of $0.367. The coin eventually finished the session at $0.375, well below its opening level of $0.407.
Ripple saw further losses during Sunday’s morning trading, when its price tumbled down to $0.324, which was its lowest level since September 20. However, the digital coin experienced a rebound in the afternoon portion of the session, which allowed it to recoup its earlier losses. XRP finished the session at $0.374, matching its opening price.
While Ripple has risen further in today’s morning trading, its rally has shown signs of slowing down. The coin rose to an intraday high of $0.388 in the early hours of the session, but has since pulled back to lower levels. At the time of writing, the Ripple price was hovering around the $0.37 level.
Ripple has seen a surge in market activity, especially on Sunday, when its daily volume reached almost $1.3 billion, more the double the transaction volume seen on Saturday. Recent market data shows that just over $1 billion worth of XRP token have changed hands over the past 24 hours.
In today’s trading, the Ripple price stood at $0.373, as of 12:28 GMT. The digital coin has gained nearly 7% in the past 24 hours, according to data from digital currency tracker Coinmarketcap.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.