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Ripple Rebounds and Investors Await South Korea’s Decision

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Ripple technicals

Ripple once again witnessed a huge rise of 42.7% in the past 24 hours. Ripple surged to $1.5 after a low of $0.89. Its market cap is now close to $58 billion and trading at volumes of $8.8 billion. Ripple rose substantially at the end of December, but the last one week has been choppy.

BitConnect was one of the top gainers over the past 24 hours with a massive rise of 312%. Tron, mediBloc, dentacoin, and dent rose 92%, 86.6%, 63.8%, and 58.3%, respectively. Almost all the cryptocurrencies (ARKW) have been moving up in the past day.

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Concerns about South Korea

The first bitcoin futures listed by the CBOE (or Chicago Board Options Exchange) saw expiry on January 17. It was a turbulent day of trading as bitcoin went below the $10,000 level.

South Korea will make a decision on Thursday, January 18, about the ongoing concerns regarding the cryptocurrency exchange regulation. The government is making moves to clear the confusion. The central bank may implement an alternative approach on how the country will make use of cryptocurrency and its technology.

The Isreali government has published a draft circular outlining possible approaches to taxing the proceeds of ICOs (or initial coin offerings).

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