XRP's Massive Rally Driven Almost Entirely by Just One Exchange

Key Points

1. South Korean traders were responsible for XRP's significant rally, with Upbit contributing 70% of the 45 million XRP net buy pressure on spot markets.

2. Coinbase and Bitstamp had much smaller shares of the buy pressure, at 11% and 6% respectively.

3. South Korean traders also disproportionately accounted for roughly a third of XRP's spot trading volume during the Q4 price rally.

4. Altcoins dominate nearly 90% of trading volume on South Korean exchanges, contrasting sharply with US-based platforms.

5. XRP briefly spiked to nearly $3 on Bitstamp, with some analysts suggesting the token still has significant growth potential.