Ripple price (XRP/USD) continues to advance, as South Korea dominates trading

on Sep 1, 2017
Updated: Mar 11, 2020

The Ripple price rally continues, with the cryptocurrency gaining nearly 10% over the past 24 hours. The fourth-largest cryptocurrency has been one of the best-performing major digital currencies in the past couple of days, which has allowed it to narrow the gap to the bigger rival Bitcoin Cash.

The price jump comes amid a significant increase in market activity. Data from Coinmarketcap shows that Ripple’s 24-hour trading volume currently stands at $534 million, most of which is driven by XRP/KRW trading. South Korea’s leading digital currency exchange Bithumb accounts for 43.5% of that volume, while Korbit and Coinone contribute to XRP/KRW’s dominance with about 14% each.

In other news, Ripple yesterday announced that Bitcoin IRA had expanded its portfolio to include the XRP token. Bitcoin IRA is a company that allows its customers to create retirement funds based on cryptocurrencies. It already supports retirement accounts in Bitcoin and Ethereum and the addition of Ripple marks the beginning of an expansion to other digital currencies. The company has plans to add more digital currencies in the coming weeks, including Litecoin, Bitcoin Cash and Ethereum Classic.

Bitcoin IRA’s COO Chris Kline commented in a statement: “Since listing XRP in our retirement accounts, demand from our customers has been immense. We are proud to be the first and only company in the world to offer XRP for retirement planning.”

In today’s trading, the Ripple price stood at $0.252, as of 12:28 BST. The cryptocoin has gained 9.6% over the past 24 hours, according to data from Coinmarketcap. It currently has a total market capitalisation of $9.68 billion.

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