XRP Jumps 19% To Hit $1, ICP Drops 10% – The Crypto Market Slightly Down

XRP hit $1 this morning on the back of several fundamental developments even as top cryptocurrencies slightly tumbled down.

XRP jumped nearly 19% in the daily chart from $0.88 to $1.06, before dipping some in the early hours this morning. As such, the move was part of a larger trend from the $0.5 price level in July, reaping a near 100% return for investors from late-July to now.

While Ripple’s native token jumped, other cryptos saw a price decline. Internet Computer, one of the world’s biggest ICOs that has fallen 80% from its peak, fell by as much as 10% this morning to $63. That move, however, was preceded by a 66% climb for ICP in the past week, and a 75% jump in the past month.

Ripple Making Waves in Japan and South Korea

XRP’s move came as payments processor firm Ripple, which partly manages the network and issues XRP, saw positive developments in its ongoing SEC case and signed on two massive partnerships in the past month.

Ripple announced the launch of an On-Demand Liquidity corridor in crypto-friendly Japan last month with SBI Remit, the country’s largest money transfer provider, mobile payments service Coins.ph, and digital asset exchange platform SBI VC Trade.

XRP price rose 19% at the time, showing progress in the firm’s overall business activities despite the ongoing case SEC v Ripple case in the US.

Yesterday saw a continuation of that trend. GME Remittance, a major Korean remittance service, joined a number of Korean financial institutions and money transfer companies already on RippleNet, a network of institutional payment providers that use solutions developed by Ripple to transfer money across the world.

Ripple commented its South East Asia expansion in a statement: