In the current crypto news, Ripple’s price has received a boost of about 13% due to the startup funding a whopping 55 billion XRP tokens into escrow. In the beginning of the week, Ripple was not doing as well and falling to .22 cents on December 1st. After 12 hours, Ripple gained 13% value by increasing to .272 cents. Ripple has a huge following in South Korean exchanges which consist of Korbit, Bithumb, and Coinone. Their daily exchange volume rose to $700 million. Ripple, which is a the fintech startup that created XRP, put 55 billion of its estimated 61.8 billion XRP into escrow. Every month, Ripple will have access to use 1 billion tokens and whatever they do not use will go back into their escrow account. Many people figured that this would cause an abundance of XRP into the market causing the price to crash, but this was not the case. Since XRP investors are now aware of how many tokens will be allocated each month to Ripple, investors will be able to come up with a fair value price for the token. Ripple has enabled the cryptocurrency market cap to surge to a staggering $9.7 billion.
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