The past weekend has not disrupted the cryptocurrency markets all that much. Not entirely surprising, as there is no reason for the markets to lose or gain any real value after positive days last week. Even so, it appears most cryptocurrencies will see positive momentum later today. The XRP price is holding its own at $0.45 so far.
XRP Price Remains in the Green
Even though there are plenty of discussions taking place regarding Ripple’s native asset, the XRP price isn’t showing any real signs of weakness. Although it is far removed from the all-time high of over $3, the current XRP price is not looking all that bad either. With a value of $0.45, the current value per XRP is still a lot higher than most people would expect it to be at this stage.
Over the past 24 hours, the XRP price has not seen any real changes. It has remained virtually flat, which is very uncommon in the world of cryptocurrency and digital assets. The lack of volatility can also be a big problem for all cryptocurrencies and digital assets, although the current XRP price momentum seems to hint at bigger and better things to come later this week.
Pushing the XRP price back above $0.5 will not necessarily happen soon, although anything is possible in the world of cryptocurrency. One thing that may prove to be a bit worrisome is how XRP is losing value compared to Bitcoin. Although this is just a 0.09% setback in 24 hours, it may hint at how Bitcoin will see another mini bull run in the coming days. How that will affect the XRP price exactly, remains to be seen.
As is always the case on early Monday, the overall cryptocurrency trading volume is not looking too hot. While $13.714bn is still pretty substantial, it is not the number people are looking for. For XRP, its volume has dropped just below $200m, although this may pick up later today once most fiat currency deposits begin to clear across the cryptocurrency exchanges.
The majority of XRP trading volume originates from the Huobi exchange, for a change. Its BTC and USDT pairs are well ahead of HitBTC’s BTC market. Binance has two pairs in the top five as well, with its BTC and USDT markets. No fiat currency support in the top five is not unusual on Mondays, although that situation will most likely change in the coming hours.
For the time being, the overall cryptocurrency momentum still looks fairly promising. If the Bitcoin price can recover its minute loss over the past 24 hours, there will be most likely be another bull run to push the value of all cryptocurrencies up in the near future. Bitcoin will, most likely, take center stage first and foremost, and the XRP price will see its fair share of momentum if all of the stars align correctly.