XRP Spot Trading Volume Explodes In Korea, What’s Going On?
2025-07-10 03:58:04
Main Idea
XRP's spot trading volume on South Korea's Upbit exchange has surged, surpassing global exchanges like Binance, driven by high retail trading activity and local investor interest.
Key Points
1. XRP's 24-hour spot trading volume on Upbit reached $269.22 million, exceeding Binance's $226.76 million.
2. A one-hour volume spike of $161.62 million on Upbit indicates unusually high trading activity, likely beyond routine retail trading.
3. South Korean traders are heavily involved in XRP, with the XRP/KRW pair being the most traded on Upbit, accounting for 12.21% of volume.
4. Analysts note that South Korean investors have significantly influenced XRP's price behavior in recent months.
5. At the time of reporting, XRP's price was $2.33, up 2.3% in 24 hours.
Description
XRP’s spot trading volume on Upbit has surged dramatically in the past 24 hours to put the token at the top of South Korea’s crypto trading netflows. Data from CoinGlass shows that in just 24 hours, XRP trading activity on the exchange is currently at $269.22 million, with an unusually high $161.62 million recorded in a single hour. This spike stands out when compared to global exchanges like Binance, where net flows for XRP are negative over the same period. Upbit XRP Trading Volume Surpasses G...
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