XRP has recently experienced a remarkable surge in trading volumes on South Korea’s leading cryptocurrency exchanges, surpassing both Bitcoin (BTC) and Ethereum (ETH). In a 24-hour period, XRP trading volumes across Upbit, Bithumb, and Korbit approached $1 billion, indicating a significant uptick in market activity for this digital asset.
On Upbit, XRP dominated with a trading volume of approximately $716.79 million, representing 13.67% of the exchange’s total volume of $5.23 billion. In contrast, Bitcoin’s volume was $400.43 million, while Ethereum lagged significantly at just 2.51%.
Bithumb also reflected XRP’s growing prominence, with $241.4 million in trading volume, accounting for 17.73% of its total $1.3 billion volume. Bitcoin’s share on Bithumb was only 7.68%, and Ethereum’s was a mere 2.31%. Meanwhile, Korbit showed close competition between XRP and Bitcoin, with XRP at $7.7 million and Bitcoin at $6.76 million.
This surge in XRP trading activity is noteworthy, especially given the current political climate in South Korea, where an arrest warrant has been issued for President Yoon Suk Yeol over his controversial martial law decision.
This political backdrop has intensified market speculation, likely contributing to XRP’s rising popularity among local traders, who are known for their influence on price movements. The implications of this trend could significantly affect XRP’s market dynamics moving forward.
