The price of Ripple yesterday soared to 1.05$ on the background of growth in the markets of South Korea.
This was somewhat unexpected, as the price of Ripple last week he went on a gradual decline, falling from 0.94$ February 25 to 0.89$ 4 Mar. However, on Sunday evening the price of the Ripple began to grow with great speed, and the increase in XRP was 14.5%.
The growth rates coincided with high trading volume of XRP markets of South Korea. According to one popular South Korean exchanges Bithumb, the share pair XRP / KRW accounted for almost 31 percent of the daily amount of Ripple. The difference between the prices of South Korean markets and other major trading venues — seem to have disappeared since the pair XRP / KRW traded at almost the same level as the XRP / BTC and XRP / USD.
However, given that this volume is so highly concentrated in South Korea, it can be related to the recent news that Woori Bank, one of the largest banks in Korea, has completed the second test of cross-border transfers using the technology of the blockchain from Ripple.
However, the first news about the successful test came on March 1, so it is unknown whether it was the catalyst for such a sharp rise.
Despite the fact that the tests related bloccano, do not use XRP, many investors believe that the banks, services, money transfer and other financial institutions in the future will be to introduce technology that uses XRP as soon as they become comfortable in the systems based on the blockchain.
At the time of writing, the XRP exchange rate is estimated at 0,96$.
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