JAKARTA The cryptocurrency published by Ripple, XRP, has recorded a significant increase over the past week. According to Coinecko data, XRP performance increased 9.5 percent in the past week. At the time of writing, XRP is trading at IDR 6,800 per coin.
At the same time, XRP's trading volume also increased with the entry of investors. It was recorded that 1.9 billion US dollars (equivalent to Rp28.3 trillion) funds had entered the XRP market.
In the last 24 hours, crypto traders have exchanged XRP worth more than $850 million, causing XRP's trading volume to jump rapidly by 101 percent in just 24 hours, according to CoinMarketCap data. At the time of writing, XRP's market capitalization was at the level of IDR 356 quadrillion.
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This condition proves a high confidence in XRP potential. Additional aspects of this spike can be seen from crypto transfers by large XRP users. Recently, the whale Alert tracking platform reported significant XRP transfers between various exchanges.
According to Whale Alert, a large amount of 87.3 million XRP, with a value of more than US$41 million (Rp610 billion) has been transferred from an unknown wallet to the Binance crypto exchange in the last 48 hours. In addition, the large transaction tracker also highlighted the movement of 24.5 million XRP, worth more than US$11 million (Rp163 billion), from another wallet to the Bitstamp crypto trading platform.
Meanwhile, on a number of South Korean crypto exchanges, XRP continues to assert its dominance. Recent reports reveal that XRP remains the most widely traded cryptocurrency in South Korea, even surpassing the two largest assets, Bitcoin (BTC) and Ethereum (ETH), quoted by DailyCoin.
Some of South Korea's leading crypto exchanges such as Bithumb, Upbit, Coinone, are experiencing an increase in the trading volume of XRP by more than 10 million US dollars (around Rp148.9 billion) per day. This shows the high interest of South Korean investors in XRP.
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