Is Ripple Making Waves?
After a pleasant lunch with a good friend of mine last week, I was convinced it was time to purchase ripple. It is a two step process at bittrex, so it took me a while to figure out the platform.
Anyway, XRP was trading between 15 and 16 cents last week. It suddenly spiked this week, pushing toward thirty cents. It appears a lot of the volume appears to be coming from South Korea.
Anyone have any idea what is going on in South Korea that may have spiked this currency? I'm not complaining. I'm already "in." I'm just curious about the sudden interest.
I'm in a long term hold position. Ripple seems a little more trustworthy to me jan some of the other "penny stock" options in the digital currency realm. Even if it hits a dollar, I've done well. But this could also be a temporary spike.
I'm curious. If someone knows what caused the spike, fill me in! I would like to recommend it as a "buy" right now, but I tend to avoid buying on the spike.
@jtimko23
Seems like there is a lot of interest on crypto in South Korea; over 50% of the trading volume on ripple has happened with Korean currency according to coinmarketcap.
I believe it's the same thing as with monero: big Korean exchanges took new currency into their collection and it's value increases becouse of the high volume increase in trading.
I saw the Korean activity. I was just curious why it spiked on trading there. It makes sense if a combination of general interest was combined with that currency hitting an exchange there. Or something like that.
@coldsteem Was asking myself the same question! :)