- South Korean traders pushed the XRP price to nearly $3 today.
- XRP gains momentum as ISO 20022 implementation takes effect.
- Upbit leads XRP rally with $500 million trading volume.
XRP has surged to $2.90 today, July 14, amid intense buying pressure led by South Korean retail traders and renewed optimism surrounding its relevance in global financial infrastructure. The price movement reflects growing momentum across both trading platforms and institutional narratives favoring Ripple’s ecosystem.
According to crypto analyst Dom, net spot market buy pressure of 45 million XRP pushed the price from $2.60 to $2.90. The exchange Upbit, which is also the largest in South Korea, added 32 million XRP to that index, which constituted more than 70 percent of the volume.
Such exchanges as Coinbase, Kraken, Bitstamp, and Bitstamp made a lesser percentage, and Binance also posted a negative net volume in this period.
Source: Dom
Data from CoinGecko shows that XRP’s 24-hour trading volume on Upbit exceeded $500 million, surpassing the combined volume of Bitcoin and Ethereum. This has made XRP the first in rank by active trades on the platform, as Korean retail traders have shown an increase in interest.
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ISO 20022 Implementation Boosts XRP Community Sentiment
In a separate but notable development, today also marks the scheduled implementation of the ISO 20022 messaging standard by the U.S. Federal Reserve for its Fedwire Funds Service. The update is drawing considerable attention from XRP holders due to the token’s full compatibility with ISO 20022 standards.
July 14 has become a milestone in the XRP community, as its crypto token is meant to facilitate cross-border payments, real-time, and data integrity, which are at the foundations of the ISO 20022 system.
The fact that Ripple is intertwined with financial institutions that are using the format already increases its usefulness in international finance.
XRP is one of the very few digital assets, along with XLM, ALGO, XDC, and HBAR, that comply with ISO 20022. Nonetheless, XRP is the best-known one because it has banking partnerships and is also embedded in RippleNet.
Fedwire transition may promote wider enterprise usage of digital assets that conform to messaging requirements, and XRP fits this category.
Through its partnerships with big players in the financial sector like Bank of America and SBI Holdings, Ripple has made further claims to its systemically important role in such regulatory harmonious settings.
The enhanced information provided by ISO 20022 should simplify the flow of information through the financial systems and may bring more XRP usage to real-time settlement solutions.
Conclusion
XRP’s climb to $2.90 is being driven by surging South Korean demand and growing interest linked to the ISO 20022 transition. With institutional adoption on the horizon and Ripple’s ecosystem expanding, market attention on XRP continues to intensify.
Also Read: Bitcoin Hits All-Time High Above $122,180 as XRP and Cardano Drive Altcoin Surge
