Ripple price (XRP/USD) edges higher in Monday trading

on Aug 27, 2018
Updated: Oct 11, 2019

The Ripple price (XRP/USD) has edged higher on Monday, attempting to recover following a rather lacklustre weekend.

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The third-largest digital currency on the market spent the better part of the weekend trading in a tight range of $0.32 to $0.33. The digital coin broke above that mark on Saturday, reaching an intraday high of $0.331, but it failed to defend the level in subsequent trading and finished the session at $0.328, slightly higher than its opening level of $0.327.

Ripple continued trading in that range on Sunday, even though the $0.32 level came under pressure on several occasions during the day. The coin eventually finished the session at $0.323, according to data from digital currency tracker Coinmarketcap.

The coin has shown some signs of improvement today, with its price experiencing a sharp increase that allowed I to challenge the $0.33 level in the early hours of today’s trading. The cryptocurrency has remained in a position to continue testing the barrier, but so far has been unable to secure a break above that level.

Ripple’s efforts to launch a more meaningful rally haven’t been helped by the low market activity that continues to mar XRP trading. Recent market data show that Ripple’s 24-hour trading volume currently stands at $194.7 million. Huobi has been the most popular destination for XRP trading over the past 24 hours, as it has captured 14.4% of all trades. The Singapore-based crypto exchange is slightly ahead of Binance, which has claimed a 14.3% share of the volume.

In today’s trading, the Ripple price stood at $0.328, as of 13:54 BST. The digital coin has gained 1.2% in the past 24 hours, Coinmarket data shows. The coin’s total market cap currently stands at nearly $13 billion.

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


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