XRP has surged to the forefront of South Korea’s crypto trading landscape, surpassing Bitcoin in trading volume. Over the last 24 hours, XRP recorded an impressive $650 million in trading volume across Korea’s top exchanges, more than 2.3 times the volume of Bitcoin during the same period.
Upbit, Korea’s largest exchange, was pivotal in this shift. XRP alone commanded a staggering $526.8 million in trading volume on Upbit, overshadowing Bitcoin’s $203.57 million across the top five Korean exchanges⁵. This surge in XRP’s trading activity signals its growing relevance and dominance in the market.
XRP Price surges
XRP has indeed surged above $0.58 for the first time since the market-wide retrace back in April. This rebound is supported by increased coin holdings from whales and sharks who possess 100,000 or more XRP coins. The trend of supply accumulation began last August, contributing to the recent comeback. As of now, XRP is trading at $0.57, experiencing an 8% decline in the last 24 hours, according to Bitcoinist.
As the crypto landscape continues to evolve, XRP’s ascent in South Korea serves as a compelling narrative, highlighting the dynamic shifts in trading preferences and market sentiment. With its impressive trading volumes, XRP is making a bold statement—one that resonates far beyond the Korean borders.
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