Ripple price (XRP/USD) surges nearly 20% as South Korea drives strong trading

Crypto

South Korea’s major exchanges capture more than 60% of the global market activity

Ripple (XRP) has been the best-performing top 10 cryptocurrency in the past 24 hours, according to data from Coinmarketcap.

The third-largest cryptocurrency has gained nearly 20% over that period, with most of the gains realised since the start of today’s trading. After a slow start, the digital coin gained some positive momentum, which fuelled a rally that has been particularly potent in the afternoon session.  The Ripple price is currently hovering around $0.91, up from its Thursday close of $0.805.

The cryptocurrency has seen a notable improvement in terms of market activity, with its 24-hour trading volume currently standing at $1.2 billion. In comparison, during yesterday’s session Ripple posted a trading volume of just under $950 million.

Once again, the majority of Ripple trades come from South Korea. Collectively, Bihumb, UpBit, Coinone and Korbit account for around 63% of the global market activity, according to Coinmarketcap. The Ripple price is hovering around $0.935 on those platforms, which is higher than the current market average.

Ripple has enjoyed a bit of positive news this week, as major Chinese payment provider LianLian on Wednesday joined the San Francisco-based startup’s enterprise blockchain network. LianLian, which has 150 million registered users, will use Ripple’s xCurrent settlement solution to power cross-border transactions between China, the US, and Europe.

In today’s trading, the Ripple price stood at $0.917, as of 15:12 GMT. The cryptocurrency has gained 19.6% in the past 24 hours.

For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.