Ripple price (XRP/USD) breaks above the $0.34 barrier amid crypto uptrend

By: Michael Harris
Michael Harris
Specialising in economics by academia, with a passion for financial trading, Michael Harris has been a regular contributor to Invezz. His… read more.
on Aug 28, 2018
Updated: Mar 11, 2020

The Ripple price (XRP/USD) has hit a six-day high above $0.34 after seeing strong gains in the past 24 hours.

The digital currency had a strong start to yesterday’s session, as its price experienced a significant uptick that allowed it to settle near the $0.33 mark. The digital coin continued to test the $0.33 level throughout the day and was able to secure a break above that mark in the final hours of the session. The coin finished the day at $0.336, up from its opening level of $0.323.

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Ripple used the positive momentum to further extend its gains in today’s morning session. The coin’s rally seemingly came to a pause after the Ripple price hit a six-day high of $0.345 at roughly 09:20 BST. However, the coin has resumed its advance in recent trading.

Ripple’s rally seems to be mirroring a larger uptrend observed across the cryptocurrency market. The price of the No. 1 digital coin, Bitcoin (BTC), saw a similar boost in late Monday trading. In addition, recent market data shows that most major digital currencies have enjoyed strong gains over the past 24 hours.

Ripple has also seen a notable improvement in terms of market activity, with some $266 million worth of XRP tokens having changed hands over the past 24 hours. Japanese crypto trading platform Bitbank has captured the largest share of that volume (15.3%), followed by Binance (14.8%) and Huobi (11.3%).

In today’s trading, the Ripple price stood at $0.346, as of 12:26 BST. The digital coin has gained just over 5% in the past 24 hours, according to data from digital currency tracker Coinmarketcap. The coin currently has total market cap of $13.7 billion, which makes it third-largest digital currency on the market.

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

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