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Ripple Price Surges 44%

"For most of the past week, the XRP price hovered around $0.160 with daily trading volumes ranging from $50 million to $100 million. Then, on August 22, Ripple began to surge. Within a single day, the Ripple price increased 44%, peaking at $0.255 before settling down to $0.245. This is Ripple’s highest mark since July 7. Ripple now has a market cap of about $9.5 billion, but it remains 4th in the rankings.

Ripple Price Chart from CoinMarketCap

KRW Pairs Fuel Ripple’s Rise

Price movement this rapid is extremely uncharacteristic for Ripple. An examination of XRP exchange volume reveals that trading pairs with the Korean won play a predominant role in today’s rally.

Ripple Trading Volume Chart from CoinMarketCap

Between Bithumb, Coinone, and Korbit, XRP/KRW pairs have more than $1.1 billion in daily volume. Even in May–when the Ripple price neared $0.40–total XRP volume did not exceed $600 million; today it has bested that mark by $1 billion."

Source: https://www.cryptocoinsnews.com/ripple-price-starts-to-make-waves-on-korean-exchanges/