XRP Rally Largely Driven by South Korean Traders, Growth Potential Remains Uncertain
2025-07-13 12:03:24
Main Idea
South Korean traders are the primary drivers behind XRP's recent price rally, with significant buying pressure on Upbit, while global exchanges show mixed activity and the token faces resistance in its price movement.
Key Points
1. South Korean traders contributed approximately 70% of XRP's net buy pressure on Upbit, contrasting with Coinbase's 11% and Bitstamp's 6%.
2. Altcoins make up nearly 90% of trading volume on South Korean exchanges, reflecting a strong preference for high-risk, high-reward tokens like XRP.
3. XRP's price rally has encountered resistance, retreating to around $2.79 after a spike to nearly $3 on Bitstamp.
4. Technical analysts suggest that regional trading volumes, particularly from South Korea, will be crucial in determining XRP's future price movements.
5. Global exchanges like Binance show varied activity, indicating differing market sentiments toward XRP.
Description
XRP’s recent surge was predominantly fueled by South Korean traders, highlighting the region’s significant influence on the cryptocurrency’s market dynamics. Data reveals that Upbit, South Korea’s leading exchange, accounted for
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