XRP is a standout case when it comes to cryptocurrencies. One of the main reasons so many people love the online digital asset investment landscape is the fact that most currencies in this world are completely decentralized. This means that no overarching governmental or authoritative body controls them. Instead, they can be bought, sold, traded, and stocked at will. Regulations within the crypto world are developing, but at a slow pace.
XRP is different from all of these decentralized tokens and coins. A company by the name of Ripple owns and controls the cryptocurrency.
Despite this, XRP has managed to quickly become one of the most popular altcoins on the market. Many people want to get their hands on what is a finite amount of Ripple tokens. Recently, XRP coin has surged massively, and this could have major ramifications on the crypto industry as a whole.
One of the main reasons for the latest surge in XRP market cap and investment popularity is the fact that huge sums of investment money seem to be coming from South Korea once again. The cryptocurrency market in Asia is massive. In South Korea specifically, there are large populations of traders and sellers that can almost dictate the market at will.
One of the reasons South Korea has become such a hotspot for the boom or fall of many tokens is the fact that there are a lot of investment rallies that seem to centre around the profitability of a single coin.
What this means is that many South Korean cryptocurrency investment circles work with one another to create euphoric rallies throughout the country. They rally traders to either buy one token en masse or sell that token in droves. This has recently been the case with XRP, causing the market cap to surge wildly.
It isn’t only in South Korea where we’ve seen a large spike of crypto traders trying their hand at XRP. It’s also spiking in the United States. There’s an ongoing court battle between the United States Securities and Exchange Commission and the parent company of XRP, Ripple. The court case arose due to concerns about whether XRP should become considered a standard US commodity rather than an unregulated online token.
Many legal experts following the SEC/Ripple case believe that much of the argument and jury decision is now favouring Ripple. This gives the company a massive boost, as it can continue to function as an ungoverned crypto token instead of a standard US commodity.
XRP can still revolve around crypto circles and can still be treated as a full-on digital asset. These events have caused many Americans who are interested in cryptocurrency and XRP to start investing in the Ripple coin.
The increased South Korean and American investment is contributing largely to the latest surge in XRP token purchases. And at present, shows no sign of slowing down.
