XRP Price Stuck at $1.40 Amid Lack of Buyer and Seller Interest

Ripple's XRP price remains stuck at $1.40 as buyers and sellers both seem hesitant to enter the market.

In a move that could have been seen as bearish, Ripple released 1 billion XRP from escrow in early September, but quickly re-locked most of it back into new time locks.

This left only 300 million XRP outside those locks, worth around $422 million. However, buy orders sitting close to the current price add up to $108.2 million, meaning that those coins are worth almost four times what buyers are ready to absorb.

The market's lack of interest in buying or selling has led to a drop in daily volume, with only 27.6 million XRP being traded since the August 22 burst.