Ripple price (XRP/USD) struggles to gain momentum after rocky Sunday session

Ripple price (XRP/USD) struggles to gain momentum after rocky Sunday session

The Ripple price (XRP/USD) has seen some rocky trading over the past couple of sessions, as frequent fluctuations have limited XRP’s gains, despite strong starts.

The third-largest digital currency on the market experienced some lackluster trading on Sunday, with its price hovering in a tight range below the $0.33 mark. Having opened the session at $0.326, the coin jumped to an intraday high of $0.329 in early trading, but that turned out to be just a temporary spike. The price jump was swiftly followed by a sharp pull-back that sent XRP into the negative territory. The coin continued to experience minor price fluctuations throughout the rest of the session and eventually finished the day at $0.328.

Ripple enjoyed a positive start to today’s trading, which allowed the coin to briefly reclaim the $0.33 level. However, the token has been on the defensive since reaching an intraday high of $0.331 in the opening hours of the session. At the time of writing, Ripple was hovering slightly below the level of its Sunday close, according to data from digital currency tracker Coinmarketcap.

In other Ripple-related news, Japanese crypto exchange Coincheck has added the token to its new over-the-counter trading service. As reported earlier today by industry website Cointelegraph, the exchange is also adding Ethereum (ETH), the world’s second-largest digital currency. The service went live earlier this month, offering Bitcoin (BTC) trading. Ripple and Ethereum are the first altcoins to be offered on the service, but Coincheck has said that it is considering adding more digital currencies in the future.

In today’s trading, the Ripple price stood at $0.327, as of 16:23 BST. The digital coin has gained 0.5% in the past 24 hours. The coin’s total market capitalisation currently stands at $13.7 billion.

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.
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