XRP has recorded a substantial increase, reaching $2.90, spurred by intense buying from South Korean traders and positive expectations about its role in global financial infrastructure.
XRP Price Surge Driven by South Korean Traders
On July 14, XRP rose to $2.90 amid strong buying pressure from South Korean retail traders. This price surge was facilitated by an uptick in trading volume on the Upbit exchange, which reported over $500 million in XRP trading in the last 24 hours.
Impact of ISO 20022 Implementation on XRP Community
July 14 also marked a pivotal moment with the implementation of the ISO 20022 messaging standard by the U.S. Federal Reserve for its Fedwire Funds Service. The compatibility of XRP with these new standards has increased interest among the token holders, as it supports international payment solutions.
Conclusion on XRP's Future
XRP's climb to $2.90 is driven by heightened demand from South Korean traders and expectations linked to ISO 20022 adoption. With Ripple's ecosystem expanding and increased institutional adoption, interest in XRP continues to grow.
XRP shows significant potential due to rising interest and strategic partnerships, which may lead to further growth in its popularity in the future.
