The currency of the Ripple is regaining its glory again and rising by 68% despite the shocks to the market on Wednesday

The currency of the riyal is rising again after a major correction, as the currency rose 68.33 percent on Thursday after the market value of the digital currency market rose by 177 billion dollars from the lowest value recorded on Wednesday.

Rebel currency "XRP" rebounded by 68.33%

The value of the riyal has declined significantly in light of the decline in the currency market this week. After peaking near $ 4 earlier this month, the price dropped to $ 0.88 on the Bittrex platform on Wednesday, down 77 percent. On Thursday, signs emerged that markets did not intend to continue to go down without a decisive confrontation, with digital currencies rising as capital reached market value of $ 177 billion. The price of the riyal was one of the best performance today, rising 49 percent, making the currency worth $ 1.62 with a market value of $ 62 billion. This means that their value constitutes almost twice the market value of the Betcone Cash.

South Korea now accounts for 67 per cent of all Ripple transactions. Bithumb is the largest trading platform in the world with 24-hour trading volume of more than $ 8.3 billion. Dollars. The riyal currency on these platforms is now at $ 1.87, representing a 20 percent increase in currency prices on Western trading platforms.

The factors that led to this rise in the currency of the ripple

The main driver of this rally is the overall rally of the market, but there are many factors that enabled the currency of the Rival to outperform the rest of the digital currencies. Most importantly, a South Korean regulatory agency has publicly spoken out against the ban on trading platforms proposed by the Justice Department. Where the head of the country's Fair Trade Commission said yesterday that he believed the blanket ban was "not really possible" and that the government had no authority to make such a policy change. Given the heavy focus on the riyal currency trading in Korea, the announcement had a significant impact on its price. In addition, South Korea's WooriBank announced that it will carry out a second pilot program using pluchein riffle. Although this pilot program will not address the use of the ruble, it appears to have a positive effect on the price of the riyal.