The Ripple price (XRP/USD) has shown a low of resilience in the wake of the another cryptocurrency sell-off.
The digital currency enjoyed some very positive price action over the weekend, which allowed it to revisit the $0.50 mark for the first time since the crypto market crash last Wednesday. The coin gained significant positive momentum in the latter part of the Saturday session and was able to maintain that momentum during Sunday’s early trading. As a result, Ripple rose to as high as $0.522 in the morning session, which was a five-day high. The virtual token pulled back in subsequent trading, but it still managed to finish in the positive territory, closing the session at $0.510, well above its opening level of $0.493.
Despite its strong performance over the weekend, Ripple lost its gains quickly after the start of today’s trading, due to another market-wide sell-off. The coin fell to an intraday low of $0.472 in the morning session, according to data from digital currency tracker Coinmarketcap.
However, Ripple showed resilience by turning the tables around in the afternoon. While the coin has yet to fully recover from the poor start, it has recouped a big portion of its early loss, which has allowed it to return near the $0.50 mark. The rebound has allowed Ripple to strengthen its position as the second-largest digital coin on the market by widening the gap to Ethereum (ETH), which has so far had a very poor trading session.
In today’s trading, the Ripple price stood at $0.498, as of 16:11 GMT. The digital coin has lost 3.3% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market ca currently stands at just over $20 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.