A recent post by XForceGlobal sparked widespread discussion, claiming that XRP continues to dominate spot trading volume across South Korean exchanges, even during market downturns, and that nearly 20% of the token’s entire global market cap is concentrated in Korea. While the statement is bold, a closer look at available data and recent market trends reveals that it is largely accurate, offering a compelling glimpse into South Korea’s unique relationship with XRP.
XRP’s Unmatched Dominance in South Korea’s Crypto Market
XRP’s prominence in South Korea is no accident. On the country’s largest exchange, Upbit, XRP frequently surpasses Bitcoin in daily trading volume. During surges in late 2024 and early 2025, XRP’s daily volume on Upbit exceeded $700 million, far outpacing Bitcoin and Ethereum combined. In December 2024, Korean exchanges saw over $1 billion in spot XRP volume within a single day, a staggering figure that underscores its entrenched popularity among local investors.
Unlike other global markets where derivatives and leveraged products dominate, the vast majority of XRP trading in South Korea is spot-based. This means Korean traders are buying actual XRP tokens rather than speculating through futures or perpetual contracts. Such a pattern suggests that XRP ownership is deeply embedded within the Korean crypto investor base, adding weight to XForceGlobal’s claim that “all Koreans who own crypto most likely hold XRP.”
$XRP#XRP still leads in trading volume on Korean exchanges, even during the market’s ugliest days.
And remember, nearly 20% of XRP’s entire market cap is concentrated in Korea alone.
The wild part? It’s all spot. This means that all Koreans who own crypto most likely own XRP. pic.twitter.com/Z2HVhluEH7
— XForceGlobal (@XForceGlobal) July 7, 2025
The 20% Market Cap Concentration: A Closer Look
Quantifying exactly how much of XRP’s market capitalization is held in South Korea is difficult, as wallet distributions are pseudonymous. However, estimations based on exchange activity and regional trading flows suggest that the figure is plausible. With XRP’s global market cap hovering around $28 billion in early Q3 2025, and Korean exchanges consistently responsible for over $1 billion in daily spot volume, Korean investors likely account for 15–20% of global XRP liquidity.
This concentration is particularly remarkable considering the country’s population. South Korea is home to approximately 52 million people, yet its trading volume in XRP rivals entire continents. The consistency and depth of this demand speak to a cultural and strategic alignment with XRP’s value proposition.
Why South Korean Traders Gravitate Toward XRP
XRP’s appeal in South Korea can be attributed to a combination of utility, regulatory clarity, and market psychology. Korean exchanges operate under relatively transparent regulatory guidelines, enabling XRP to thrive even during its regulatory battles in the United States. For South Korean retail traders, who favor speed, efficiency, and volatility, XRP’s low transaction fees and rapid settlement times make it an attractive alternative to Bitcoin and Ethereum.
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Moreover, the so-called “Kimchi premium”, where cryptocurrency prices in Korea are often higher than global averages, further incentivizes local traders to actively engage in tokens like XRP, which tend to benefit from this phenomenon. The result is a feedback loop where high liquidity, strong local demand, and favorable market conditions reinforce XRP’s dominance in the region.
A Claim Grounded in Reality
XForceGlobal’s assertion that “all Koreans who own crypto most likely hold XRP” is more than just a provocative headline; it reflects a market dynamic that has made XRP a household name in South Korea’s crypto scene. Data affirms its status as the most traded digital asset on Korean platforms, supported by a predominantly spot-based trading structure and deep investor participation.
While “all” may be an exaggeration in the strictest sense, the overwhelming concentration of XRP activity and ownership in South Korea makes it one of the most XRP-heavy markets in the world, by far.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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