XRP price (XRP/USD) fails to hold above $0.40 in rocky Tuesday trading

XRP price (XRP/USD) fails to hold above $0.40 in rocky Tuesday trading

The third-largest digital currency, XRP, has experienced a significant pull-back that prevented it from establishing a stable position above the $0.40 mark.

After falling to an intraday low of $0.392 on Monday morning, XRP experienced a couple of big surges in the afternoon that allowed it to break above the $0.40 mark. The digital coin rose to as high as $0.402 and eventually finished the day at $0.401, notching up its first close above $0.40 since July 3.

Utilising the positive momentum it had gained on Monday, the coin was able to continue its advance during the early hours of today’s session. XRP jumped to $0.406 in the morning, which was a three-day high for the coin. However, despite its efforts to retain its early gains, the coin has pulled back to sub-$0.40 levels in more recent trading. At the time of writing, the XRP price was hovering just below the $0.40 mark, according to data from digital currency tracker Coinmarketcap.

Mirroring Bitcoin’s movement

XRP’s recent performance has largely mirrored the wider crypto market, led by the original cryptocurrency, Bitcoin (BTC). Yesterday, Bitcoin finally managed to recapture the $12,000 level, with its price rising to as high as $12,345.83 during the afternoon session. BTC rallied further in today’s morning session, when it hit a near two-week high of $12,779.13. However, just when it seemed like the coin is preparing to test the $13,000 mark, BTC retreated to sub-$12,500 levels.

In today’s trading, the XRP price stood at $0.396, as of 14:40 BST. The digital coin has lost 0.60% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $16.9 billion, which is roughly half of the value of the second-largest digital currency on the market, Ether (ETH).

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