XRP Leads 24-Hour Trading Volume on Upbit
On Bithumb, the 24-hour trading volume of XRP/KRW reached $41 million, surpassing BTC/KRW and ETH/KRW. Despite the strong trading volume, XRP's price remained stable, fluctuating between $1.44 and $1.45.
Familiar Patterns in the Korean Market
This trend aligns with long-standing market patterns. XRP has become a primary trading instrument in Korea, replacing Bitcoin and Ethereum, dominating the country's fast-paced retail market. While global institutional capital typically views Bitcoin as a store of value, the trading dynamics in Korea present a different picture, with domestic traders consistently prioritizing XRP during active market periods for its liquidity and rapid trading advantages.
Analysts point out that Korean retail traders are once again driving speculative interest in XRP, a dynamic frequently observed during active market periods. XRP's deep order book, tight spreads, and low execution friction make it the preferred trading tool on KRW-denominated spot exchanges, which do not offer derivatives trading.
XRP has historically maintained strong popularity in the Korean market, with many Korean investors closely monitoring this token due to its role in cross-border payment technology and its long-standing presence in the crypto industry.