XRP Outshines Bitcoin: South Korean Retail Investors Fuel Surge

Despite regulatory uncertainty, XRP has continued to defy the odds as one of the best-performing cryptocurrencies this year, outperforming Bitcoin and other altcoins. After frighteningly approaching falling below the $0.50 region in recent days, it is presently holding at roughly $0.52, up 2% in the last 24 hours. 

Retail investors have been accelerating the growth of XRP, claims research company Kaiko. Dessislava Ianeva, a research analyst at Kaiko, observed that Korean markets have shown a particularly high level of interest in XRP. While the whales were selling, she said that retail investors were propelling the gains there. 

In fact, XRP has just overtaken Bitcoin as the most popular alternative currency in South Korea, where trade volume has risen from an average of $200 million to around $800 million in recent weeks in anticipation of a court triumph against the U.S. SEC. 

Henrik Zeberg, a macroeconomist with over 108,000 followers, has shown support for XRP in recent tweets, claiming that "Crypto is on the verge of taking off in a very big way" and mentioning bitcoin, Ethereum, JasmyCoin, and XRP among others.  

No XRP Ripple Liquidity Hub 

The Ripple Liquidity Hub, which acts as a gateway for companies wishing to use cryptocurrency, was just introduced by Ripple. The blockchain startup did not, however, include the introduction of its own cryptocurrency, XRP. Bill Morgan, an attorney and crypto enthusiast, is unconcerned with the fact that XRP isn't present in the liquidity hub while Ripple is still embroiled in a legal dispute with the US SEC. Because it may be used as "great evidence for trial...that Ripple products don't need XRP," he wrote, "XRP holders shouldn't be concerned," adding that they shouldn't worry. 

Coinbase Plans International Growth 

Innovation may be pushed to go abroad as long as cryptocurrency firms are subject to regulatory scrutiny. The CEO of cryptocurrency exchange Coinbase, Brian Armstrong, has disclosed that the business is getting ready to sue the SEC in court. In March, the regulator issued a Wells Notice to the exchange, which is a formality before charges are typically brought.   

Armstrong's frustration with the murky regulatory landscape in the American market is mounting. He outlined a few possibilities in which the exchange "might invest more elsewhere in the world" or even "might relocate." Because the U.K. market has chosen a more crypto-friendly approach to regulation, Coinbase is keeping an eye on it.