Ripple price (XRP/USD) holds above $0.30 after big Sunday drop

The Ripple price (XRP/USD) has been moving sideways following a sudden drop that killed its positive momentum on Sunday afternoon.

In terms of trading, the third-largest digital currency had an eventful weekend, which ultimately ended disappointingly for the coin. Mirroring a market-wide upswing, XRP was able to amass significant gains on Saturday, as its price closed the session at $0.332, up from its opening level of $0.321. The coin also enjoyed solid trading on Sunday morning, as it rallied to a five-day high of $0.341.

During the afternoon portion of the session, however, Ripple became one of the many digital coins that suffered strong downward corrections. The coin even dropped below the $0.30 mark for the first time in a week, although it eventually managed to close above that level. XRP finished the day at $0.301, down from its opening price of $0.332.

Ripple has so far seen mostly quiet trading on Monday, although its price has managed to edge a bit higher. At the time of writing, the Ripple price was hovering around the $0.305 mark, according to data from digital currency tracker Coinmarketcap.

The intense price action on Sunday translated into big increase in market activity for XRP. The coin’s daily volume reached $1.1 billion yesterday, surpassing $1 billion for the first time in five days and only the second time this year. Recent market data shows that about $960 million worth of XRP tokens have changed hands in the past 24 hours.

In today’s trading, the Ripple price stood at $0.304, as of 13:59 GMT. The digital coin has lost 5.7% of its value in the past 24 hours, Coinmarketcap data shows. Its total market capitalisation currently stands at almost $12.6 billion.

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