Recently, Ripple's XRP has performed brilliantly, with its market value quadrupling in a month, particularly favored by Korean investors. However, Ryan Kim, a partner at Korea's largest cryptocurrency investment firm Hashed, stated that the reason Koreans are purchasing XRP in large quantities is that Ripple sold XRP to Koreans through a Ponzi scheme back in 2014, which attracted a large number of Korean investors and established the XRP community. (Background recap: XRP skyrocketed to $2.65; analysts warn that leverage risk may trigger a short-term correction) (Background information: Ripple's XRP market value has surpassed 100 billion, becoming the fourth largest cryptocurrency! Bitwise: BTC faces 'two factors hindering' the $100,000 mark) Since Trump's victory, the established public chain Ripple has seen a strong rebound due to the expected loosening of regulatory lawsuits. The price of XRP has surged 410% in the past month, reaching a high of $2.82 yesterday, with a market value exceeding $144 billion, firmly maintaining its position as the third largest cryptocurrency. XRP open interest hits an all-time high. Additionally, according to Coinglass data, XRP's total network open interest also reached an all-time high yesterday, approaching $4 billion. However, following the emergency martial law announcement by the South Korean president last night, the current total network open interest for XRP has fallen to $3.76 billion. Hashed founder: Ripple started in Korea through a Ponzi scheme. It is worth mentioning that XRP has recently been particularly sought after by Korean investors. According to CoinGecko data, XRP accounts for nearly 30% of the spot trading market on the South Korean exchange Upbit, with a trading volume of $7.78 billion in the last 24 hours, five times that of Bitcoin on Upbit. In this regard, Ryan Kim, a partner at Korea's largest cryptocurrency investment firm Hashed, stated that the reason Koreans are buying XRP in large quantities is that Ripple sold XRP to Koreans through a Ponzi scheme back in 2014, which attracted a large number of Korean investors and established the XRP community: In 2014, Ripple sold XRP to Korean 'Ajumma' through a Ponzi scheme, which is referred to as 'Ripple Market Korea.' At that time, many people invested in XRP, and they probably made a lot of money. Korea has a genuine XRP community, which is the reason why Korean investors are buying a lot of XRP. Ripple Labs sold XRP to Korean Ajummas with a Ponzi scheme in 2014. It was called 'Ripple Market Korea.' There were so many people invested in XRP back then. Probably they made so much money lol There is a genuine XRP community in Korea and that's why Koreans are buying XRP a lot… — Ryan Kim (@0xryankim) December 2, 2024 Related reports: XRP surges 25% to reach a three-and-a-half-year high! What other 'SEC revenge' concept coins should we pay attention to? Ripple's stablecoin RLUSD countdown to launch: Will Ripple spend heavily to subsidize and start a customer acquisition battle? Ripple (Ripple) completes Standard Custody acquisition: Strengthening US dollar stablecoin and RWA business.. advancing 'Korea's largest crypto venture capital: Ripple started by selling XRP to Korean Ajumma through a Ponzi scheme...' This article was first published on BlockTempo (the most influential blockchain news media).

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