South Korean traders have emerged as the dominant force behind XRP’s recent price rally, contributing approximately 70% of the token’s net buy pressure on local exchange Upbit. This surge significantly outpaces activity on international platforms, where Coinbase accounted for just 11% and Bitstamp only 6% of buy-side demand.
The trading pattern aligns with South Korea’s broader crypto market behavior, where altcoins constitute nearly 90% of exchange volume. This reflects a pronounced regional preference for high-risk, high-reward assets like XRP amid divergent global market sentiment.
XRP’s rally faltered near the $3 psychological barrier on Bitstamp, subsequently retreating to the $2.79 range as technical resistance intensified. Analysts highlight that regional trading activity, particularly persistent volumes from South Korean exchanges, will be decisive for sustaining price momentum.
Global platforms like Binance displayed inconsistent trading patterns, underscoring fragmented institutional and retail positioning on XRP’s valuation beyond the Korean market stronghold.