XRP Leads South Korea’s $1B Trading

• XRP volume surpasses $1 billion in 24 hours.
• XRP dominates South Korean exchanges like Upbit and Bithumb.
• XRP on-chain activity indicates possible price rally.

The XRP token has achieved an impressive milestone in the South Korean cryptocurrency market, surpassing Bitcoin (BTC) and Ethereum (ETH) in trading volume on major local exchanges. In a single day, XRP’s trading volume surpassed the $1 billion mark, cementing its position as the top cryptocurrency doing more negotiated in the country.

On the Upbit exchange, the largest in the South Korean market, XRP trading volume reached $716,79 million, accounting for 13,67% of the platform's total volume of $5,23 billion. Meanwhile, Bitcoin recorded $400,43 million and Ethereum took only 2,51% of the total volume, highlighting the broad preference of traders for XRP.

Bithumb, another prominent exchange in the country, also reflected this increase. XRP moved $241,4 million, representing 17,73% of the platform's total volume of $1,3 billion. Comparatively, Bitcoin contributed 7,68%, and Ethereum a modest 2,31%.

This dramatic increase in trading volume is attributed to both internal and external factors, including recent political tensions in South Korea. The issuance of an arrest warrant for President Yoon Suk Yeol has sparked speculation in the financial market, creating an environment conducive to high activity in the cryptocurrency market, with XRP standing out as the top asset.

Furthermore, the growing participation of South Korean investors has been boosting XRP trading. The number of local cryptocurrency investors surpassed 15,59 million in November, representing nearly 30% of the country’s population. This robust investor base continues to fuel the growth of the crypto market, with XRP gaining further prominence.

The upward movement in XRP trading volume also reflects an increase in on-chain activity. The average number of transactions per ledger has been steadily increasing, signaling increased engagement on the network. This scenario reinforces expectations that XRP may be on track for a potential price breakout, with critical resistance at $2,18.

At the time of publication, the price of XRP was quoted at US$2,31, up 10% in the last 24 hours.

With South Korea leading the global trading volume and a growing demand for cryptocurrencies, XRP is solidifying itself as one of the most attractive options for traders.