Cryptocurrency
Cryptocurrency
XRP fights to stay above $0.40 following disappointing weekend trading
The third-largest cryptocurrency, XRP, had a poor start to the Saturday session, as its price plunged towards the $0.40 mark during early trading. Having opened the session at $0.427, the coin dropped to as low as $0.405, erasing all the progress it had made during the preceding session. However, the coin was able to overcome its early struggles and eventually finished the day in the positive territory. XRP closed the session at $0.429, according to data from digital currency tracker Coinmarketcap.
Despite its positive finish on Saturday, the coin did not have the necessary momentum to break through the $0.43 mark on Sunday. XRP opened the session at $0.429, which remained its highest price level for the day. The coin saw a couple of sharp drops throughout the session, which eventually led to a close of $0.396, its lowest since June 11.
The situation changed significantly in today’s morning session, as the coin enjoyed a welcome rebound that hinted at a possible return above the $0.42 mark. However, after hitting an intraday high of $0.417 in the early hours of the session, XRP has pulled back to lower levels and is currently trading around the $0.40 mark.
XRP’s earlier uptick has seemingly been supported by stronger market activity. Yesterday, the coin posted a daily trading volume of $1.57 billion, some $200 million lower than the volume generated on Saturday. Meanwhile, recent market data shows that around $1.72 billion worth of XRP have changed hands over the past 24 hours.
In today’s trading, the XRP price stood at $0.401, as of 13:33 BST. The digital coin has lost 2.8% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at just over $17 billion.
Featured image: Stanslavs / Shutterstock.com
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