XRP Trading Booms on Upbit in South Korea, Beats BTC & ETH

XRP is making waves in South Korea. On the country’s largest crypto exchange, Upbit, XRP has become the most traded coin in the past 24 hours. Surprisingly, it even surpassed Bitcoin and Ethereum in trading volume. It is showing strong interest from traders in the region. Upbit data shows XRP traded nearly 70 million tokens in just one day. This is equivalent to around $208 million USD. That’s more than Bitcoin’s $155 million and Ethereum’s $120 million over the same period.

The token’s price moved between ₩4,092 and ₩4,153, ending around ₩4,139 ($1.09 USD). While the price change of 0.73% might seem small. The massive trading volume tells a different story. Regular and professional traders have been very active. While moving large amounts of XRP back and forth. This surge puts XRP at the top of Upbit’s charts. Demonstrating its popularity as a liquid and fast-moving crypto. For many Korean traders, XRP is becoming a go-to option for short-term trading and larger transactions.

Why XRP is Surging

Several factors explain the recent spike. XRP transactions are faster and cheaper than many other coins. This makes it attractive for trading and payments. Additionally, the coin has a loyal community in South Korea. With active discussions and updates circulating on social media platforms. Local market sentiment is also playing a role. During quieter periods in the global crypto market. Korean traders often drive spikes in volume. This can lead to short-term price movements and record trading days like this one.

Price Movements and Market Behavior

XRP’s price showed minor volatility during the day. The small swings suggest traders are confident in the market’s liquidity. It allows for executing large trades without causing big price swings. Over the past week, XRP has stayed close to the ₩4,100 mark. The combination of steady pricing and high volume. This indicates that traders may be accumulating XRP for short-term opportunities. Also, positioning it for upcoming moves.

How XRP Compares to BTC and ETH

While Bitcoin remains the benchmark for crypto. Ethereum dominates smart contract activity. XRP’s high liquidity and low transaction costs make it appealing for traders. Those looking to take advantage of market inefficiencies, this trend shows how regional markets can vary from global sentiment. Upbit activity shows that local traders can influence the market significantly. It gives coins like XRP a chance to shine even when global giants dominate headlines.

Exchange Activity and Insights

Upbit’s order books show repeated bursts of large trades in XRP. Analysts say these movements are likely a mix of algorithmic trading. Including arbitrage and active accumulation rather than speculative hype. The Korean market has long supported XRP. Due to its use in payments and remittances, it has a stronger base compared to some other altcoins. This support helps maintain consistent trading interest and liquidity.

Looking Ahead

Although XRP’s price hasn’t jumped dramatically. The record trading volume signals strong engagement. Analysts suggest that sustained interest in Korea could continue to boost liquidity. It can even affect global XRP markets. As XRP remains the most traded coin on Upbit, investors are watching closely. Any continued momentum could reinforce its position as a top regional crypto. It shows that even in a market dominated by Bitcoin and Ethereum. There is room for other tokens to lead. Currently, Korean traders have made it clear: XRP is in demand, and this token is taking center stage.