Ripple price (XRP/USD) stays below $0.50 amid lower volumes

Ripple price (XRP/USD) stays below $0.50 amid lower volumes

The Ripple price (XRP/USD) remains stuck below the $.50 mark, despite making a couple of attempts to break through the barrier on Monday.

Having opened the Monday session at $0.484, the third-largest digital currency on the market enjoyed some early positive price action, with its price rising above the $0.49 mark. However, as the morning session progressed, the digital coin lost its momentum and eventually fell to an intraday low of $0.479. The token made another attempt to rally in the afternoon, this time rising to as high as $0.496, but once again it pulled back in subsequent trading. Still, the coin managed to finish the day in the black, as it closed the session at $0.489.

Despite the somewhat positive Monday finish, Ripple’s had a poor start to today’s session, with its price falling to the low-$0.48 mark. The coin has since continued on a downward trajectory, with its price dropping again to the $0.479 mark. At the time of writing, the Ripple price was hovering around the $0.48 level, according to data from digital currency tracker Coinmarketcap.

Meanwhile, Ripple has seen subdued trading activity on Tuesday. Recent market data shows that some $455 million worth of XRP tokens have changed hands over the past 24 hours. This is significantly lower than the $540-million daily trading volume generated on Monday.

The world’s largest crypto exchange, Binance has captured the largest share of Ripple’s 24-hour volume – just over 18%. Japanese trading platform Bitbank remains a distant second with an 11% share.

In today’s trading, the Ripple price stood at $0.481, as of 12:09 BST. The digital coin has lost 0.4% of its value in the past 24 hours, Coinmarketcap data shows. Its total market cap currently stands at $19.2 billion.

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

By Michael Harris
Specialising in economics by academia, with a passion for financial trading, Michael Harris has been a regular contributor to Invezz. His passion has given him first hand experience of trading, while his writing means he understands the market forces and wider regulation.
Invezz uses cookies to provide you with a great user experience. By using Invezz, you accept our privacy policy.