XRP has surged to dominate trading activity on South Korea’s largest cryptocurrency exchange, Upbit, surpassing Bitcoin (BTC) and Ethereum (ETH) in volume. According to crypto analyst Xaif, XRP recorded a staggering $166 million in 24-hour trading volume on July 1, capturing 14.37% of all trades on the platform. This makes XRP the most traded asset on Upbit for the day, an extraordinary feat that has turned heads across the global crypto community.
XRP Tops the Charts on Upbit
Xaif’s update confirms that XRP now leads all tokens in daily volume on Upbit, overtaking industry giants like BTC and ETH. This is not the first time XRP has posted impressive trading activity on Korean exchanges, but the current surge is particularly notable for its speed and scale.
In just one day, XRP not only claimed the top spot but also accounted for nearly one-seventh of Upbit’s total volume, a massive achievement in one of the world’s most active crypto markets.
While XRP has long been a favorite among South Korean traders, this volume spike underscores renewed enthusiasm as market participants rally behind the token. Such dominance suggests strong demand and growing momentum for XRP within the region.
🚨 $XRP takes over Korea’s top exchange — Upbit!
Surpasses $BTC & $ETH with $166M traded in 24H (14.37% share)🔥 Leading all tokens in volume on July 1
🇰🇷 Korean traders are all in on #XRP! pic.twitter.com/3tR2vlMSTa
— 𝕏aif🇮🇳|🇺🇸 (@Xaif_Crypto) July 1, 2025
Why XRP Dominates in South Korea
South Korea has historically maintained a deep interest in XRP. Its appeal is rooted in the token’s fast transaction speeds, low fees, and Ripple’s expanding presence in Asia. Korean retail investors, known for their quick reactions to market trends, have often driven XRP surges during periods of speculation or bullish sentiment.
Moreover, South Korea’s regulatory clarity around crypto trading offers a favorable environment for digital assets like XRP. With fewer legal uncertainties than in other regions, Korean traders have embraced XRP with confidence, contributing to its consistently high rankings in local exchange volumes.
Whale Activity and ETF Speculation Fuel Momentum
Behind XRP’s sudden rise are several contributing factors. Large wallet holders often referred to as “whales” have been actively accumulating XRP. In some cases, single wallets have acquired over 11 million XRP, signaling strong institutional or high-net-worth interest.
Additionally, rumors of a potential XRP spot ETF, possibly involving major financial institutions like BlackRock, have sparked new waves of speculation. Although not yet confirmed, the mere possibility of such a development has drawn attention and capital into the XRP market.
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Blockchain data also shows steady growth in XRP adoption. Wallets holding significant balances have expanded, and the total number of wallets surpassed 5.5 million in late 2024, reflecting a widening user base.
Global Implications of XRP’s Surge
XRP’s dominance on Upbit could have ripple effects across global markets. South Korea’s crypto market is known for influencing international price movements, especially during periods when local demand outpaces global trends. The phenomenon known as the “Kimchi Premium”, a price disparity between Korean and international exchanges, often amplifies these local dynamics.
If XRP’s current momentum in Korea continues, it may lead to increased interest and liquidity across other global platforms, strengthening its position as one of the leading altcoins in the broader market.
In summary, XRP’s takeover of Korea’s top exchange is a powerful testament to its enduring appeal and growing strength in key global markets. With $166 million in trading volume and a 14.37% share on Upbit, the token is once again proving its ability to lead the pack. As investor interest intensifies and speculation around ETFs continues, XRP’s moment in the spotlight may just be getting started.
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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