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Amidst the increased volatility in the cryptocurrency community, Ripple was seen expanding. The firm behind XRP did not let the bearish market stop it from entering new regions. More recently, the platform announced its entry into South Korea through a partnership with a prominent digital asset institutional custody firm, BDACS. Ripple’s latest partnership is expected to further boost the presence of XRP in the country. But has this deal impacted the price of the altcoin? Also Read: Broadcom (AVGO) Jumps 5%, AI Stocks Bounce Back: $250 Next? A Dive Into The Latest Partnership Source: Watcher Guru The latest collaboration intends to aid Ripple & BDACS in expanding South Korea’s institutional custody market and opening up new commercial and technological prospects. In line with the Financial Services Commission’s (FSC) plan for South Korea, Ripple and BDACS are collaborating to facilitate institutional investment in the cryptocurrency industry. Through this partnership, ...

Ripple has reserved 200 million XRP into its treasury account, which the company will likely sell throughout September. This is part of the 1 billion XRP unlocked this month, as Finbold previously warned about – with potential price impact. Every month, Ripple unlocks tokens from escrows, re-locks part of them into future escrows, and reserves the difference to sell. As XRP’s largest holder and sole beneficiary of its initial distribution, Ripple’s activities are highly important to the token’s economics. On September 1, Ripple moved 200 million XRP from the ‘Ripple (24)‘ account to ‘Ripple (1)‘. The former finished a 500 million XRP escrow on the same day, while the latter is the company’s treasury account. Picks for you Bitcoin bears ‘about to get murdered,’ says crypto analyst ...