south korea ripple

Cryptocurrency is a market that has taken the world economy by storm. With what is essentially a new way to buy and sell goods, cryptocurrency represents a type of currency that has never existed before. One of the most popular cryptocurrencies in the crypto world is one known as Ripple. Ripple is also known by its ticker symbol, XRP. The price of many of the world’s top cryptocurrencies such as bitcoin and ethereum managed to take a large dip during the last week of December with many reasons to blame.

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After all of these top cryptocurrency lost an incredible amount of value, many investors decided to turn to Ripple to invest in a different type of cryptocurrency. Ripple represents now what is a safe haven to when other cryptocurrencies are dropping in price. The coin has proven itself to be quite resilient to the overall broader market. South Korea has quickly become one of the largest buyers and sellers of the currency, but some legislation may quickly be changing that. South Korea has recently began requiring cryptocurrency transactions to include the real names of those involved.

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Up until this point, the entirety of the cryptocurrency industry was based on anonymity. This anonymity is the reason that many people became involved in the crypto world in the first place, so many critics are unsure of what repercussions this will have on the greater cryptocurrency industry. According to a report done recently, “Bitcoin prices fell roughly 8% to $14,200, Ethereum shed 4% to $725, while Litecoin dropped 11% to $240. But in the same period Ripple, which currently holds a market value of about $55.5 billion when accounting for all coins in circulation, has remained steady.” The hopes are high that Ripple can continue to provide solid gains for investors.


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