A week after the price of Ripple’s cryptocurrency XRP crossed the $1 mark for the first time in history, the price of the cryptocurrency started to rise again, rising by 34%.
Ripple’s open-source RippleNet at the time of writing The money used in the cryptocurrency network is worth $1.79. This value is almost double the price of Ripple last week. The increase experienced by Ripple, which has been at a price of $ 0.20 for more than the past six months, has been good for its partially stable market for a long time.
As a result of the increase, the market volume of XRP It is chasing the market volumes of Ethereum and Bitcoin, according to CoinMarketCap data. With a value of $72 million, XRP has managed to become the third largest coin in the cryptocurrency market based on market cap.
According to the data, most of the increase in price today is 09:01- It originated between 15:00 hours. Ripple is up 14.43 percent in the last six hours in these time zones.
Another thing worth noting, the majority of XRP’s 24-hour trading volume came from South Korea-based exchanges.
According to CoinMarketCap data. Three South Korean exchanges Bithumb, Coinone and Korbit are responsible for 31.5%, 7.3% and 2.07% of XRP’s worldwide trade, respectively. In addition, more than half of the trading transactions within these three exchanges are focused on Ripple. It is thought that this move by South Korea was made to reduce speculation in the crypto money market in the country.
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