Since yesterday, XRP has experienced incredible growth and an increase in the number of users. Thus, an inflow of money moves into the Ripple token. Among the main flows are fundings from North America (Mexico), Japan and Korea.
There is raw footage of XRP lighting up the map while sustaining 8,000,000+ traded per minute.
In case you missed it, $xrp just left the buiding via the ceiling on https://t.co/r34LWtU8lD. Here's raw footage of #XRP lighting up the map while sustaining 8,000,000+ traded per minute. #Crypto pic.twitter.com/rtUFt1AVRA
— fiatleak (@fiatleak) February 4, 2020
This is a data visualization tool created using publicly available data in XRP Ledger, but it’s interesting to watch the movement in real-time.
As you know, the latest developments that contributed to the purchase of Ripple tokens include the addition of XRP swaps to the BitMex platform, as well as the announcement of Ripple collaboration with a remittance company Intermex. The latest opens the ODL between the global corridors of Latin America and the Caribbean.
In addition to the fundamental factors, one of the unique features of the crypto space in these regions is that altcoin is very popular here. Some of them have very strong and purposeful communities; some of these communities are even more active than, in a way, the Bitcoin community.
For some reasons, XRP has long gained popularity in these countries. Perhaps this is due to the fact that large banks are experimenting with Ripple technology, and people here tend to believe in banks and large institutions with which Ripple Labs collaborates.
Therefore, we can assume that large volumes of fresh money flow into this token and, by coincidence (or maybe not), XRP is the hottest TOP-10 coin in terms of the current price increase.
At the press-time, XRP ranks the 3rd at the Coinmarketcap market capitalization rating.
Another thing is the general lack of understanding of technology adoption by many new users. This is not at all surprising, once we were all like that, but a new wave of investors probably demonstrates a completely new level of misunderstanding and erroneous decision-making. Many of them do not bother to research what this token gives and how it is useful, but rather follow the opinions they hear in troll boxes on crypto exchanges.
A New Wave Of North America, Japan And Korea Investors To Energize The XRP Growth
These flows impacts XRP price positively. Also, it is wonderful that we are approaching the massive adoption of cryptocurrencies due to clarity with regulation, and that completely new players are entering the market, bringing more liquidity to the markets and attention to the crypto space.
On the other hand, some people are concerned about such an unstable growth rate and the ongoing community mutation. The level of understanding among crypto investors is consistently low.
Moreover, people enter the crypto space to make quick profits and seem to be completely not interested in understanding the technical or social aspects of cryptocurrencies. Many do not even know what a “wallet” or “private keys” is until they spend a lot of money on some coins.