Ripple’s XRP cryptocurrency has completed the round trip at press time.
The ripple-U.S. dollar (XRP/USD) exchange rate jumped to a high of $0.23 at 01:10 UTC today, only to fall back to the session’s opening price of $0.21. As per CoinMarketCap, the cryptocurrency is trading at $0.20 and has gained 10.34 percent in the last 24 hours.
But while the gains are in line with action seen in most of the market, social media suggests XRP may be gaining on bullish statements. Making the rounds is one report by Palm Beach Research Group, which suggests the analyst expects the cryptocurrency to outperform in 2018.
A closer look at the charts, however, indicates the rally today may have a more certain cause: Korean desks offering XRP/KRW pairs. Trading volumes on Bithumb, one of the largest exchanges in South Korea, have gone up by 45 percent in the last 24 hours…