XRP trading volumes surpass Bitcoin on Korean exchanges

XRP became the most-traded cryptocurrency on South Korea’s largest exchange, Upbit, after the XRP/KRW pair recorded approximately $110.9 million in 24-hour trading volume, surpassing Bitcoin and Ethereum.

Similar trading patterns were also recorded on Bithumb, where XRP trading volumes exceeded both Bitcoin and Ethereum during the same period.

Market analysts said South Korea’s crypto regulations, which restrict domestic exchanges to spot trading and prohibit leverage and derivatives products, have contributed to continued retail interest in higher-volatility digital assets such as XRP.

Ryan Yoon, a research analyst at Tiger Research, said the latest increase in XRP activity appeared to be driven partly by South Korean retail investors reallocating capital away from weaker domestic equity markets.

Despite the increase in trading volume, XRP continued trading near $1.45 and remained below resistance levels around the $1.49-$1.50 range, which have limited upward price movement in recent months.

The report said approximately 36.8 billion XRP, representing around 60% of the token’s circulating supply, is concentrated near the current trading range, contributing to continued selling pressure as some holders seek to exit positions near break-even levels.

Market participants are also monitoring developments surrounding the proposed CLARITY Act in the United States, which could influence broader sentiment toward digital asset regulation and cryptocurrency markets.

At the time of reporting, XRP price was $1.43.