The cryptoactive of Ripple, XRP, is one of the big winners of the day, growing its price by more than 5% in 24 hours and once again surpassing Bitcoin Cash as the third most capitalized crypto-active market. Momentum apparently motivated by the announcement of the formation of a consortium of credit cards between Japanese banks and a subsidiary of Ripple.
On the other hand, most of the cryptoactive market -including Bitcoin- has a downward behavior of more than 5% in most cases. Part of this behavior could be related to unfounded news about an alleged closing of exchange houses in South Korea.
The cryptoactive XRP has managed to reach a price of $ 1.49 each, presenting a market capitalization value of more than $ 57 billion, according to CoinMarketCap. At the time of writing the article, it is around $ 1.48 each.
Graph of 7 days of the price of Ripple. Source: CoinMarketCap
In 24 hours, it has mobilized more than $ 3.4 billion worldwide. These movements are being registered mainly in the Bithumb exchange with more than 35%; Binance with a little more than 10%; and both Bittrex and Poloniex are being managed with almost 10%, according to CoinGecko.
The main currencies in which this volume of transactions is being mobilized is concentrated in more than 50% in Korean won (KRW), followed by bitcoin (BTC) with more than 29% and the US dollar (USD) with more of 6%. This indicates a clear impulse on the part of the South Korean market to increase this cryptoactive.
This growth in the Asian region could be motivated by the alliance they have established with the companies SBI Holding in South Korea and Japan. This news recently boosted the value of XRP to more than $ 1. Also this December 27, its subsidiary SBI Ripple Asia disseminated the formation of a consortium for the development of payment platforms with credit cards based on distributed accounting technology. This alliance was formed between SBI Holdings Inc, Credit Saison Co and Mitsui Sumitomo Card Co.
Unlike Ripple, the rest of the market is suffering a correction of its value against the USD. In the case of Bitcoin, it shows a drop in its value of more than 7% in 24 hours; presenting a price of $ 14,210 per unit at the time of writing the article, according to CoinMarketCap.
24 hour chart of bitcoin price. Source: CoinMarketCap
The total market of cryptoactives has presented a fall of more than 2.5% in less than 24 hours, despite the fact that it has been enjoying an upward trend, according to CoinMarketCap. Although Bitcoin has fallen more than 7% and maintains a market dominance of more than 43%, the rise in Ripple's value has prevented a further market decline.
A catalyst that could motivate the correction, could be the dissemination of a news by the mass media, about the supposed prohibition of exchange houses in South Korea, news that was distorted and still widely disseminated. In contrast, the South Korean government has increased the regulation of exchange houses to protect investors and avoid the fraudulent use of cryptoactives for criminal acts.