XRP has overtaken Bitcoin and Ethereum in trading volume on Upbit, South Korea's biggest cryptocurrency exchange, signaling a notable shift in local investor behavior. In a recent 24-hour period, XRP recorded a trading volume of $52.33 million, surpassing Bitcoin’s $42.14 million and Ethereum’s $24.30 million on the platform. This volume accounts for roughly 10% of Upbit’s total daily trading flow, underscoring XRP’s dominant standing within the Korean market.
Despite the surge in trading activity, XRP’s price remained relatively stable, trading near $1.13 with a slight decline of around 1.4% during the same period. This pattern indicates that the volume spike is not a speculative pump but reflects robust and consistent demand. In fact, XRP maintained its position as Upbit’s most-traded cryptocurrency throughout 2025, surpassing Bitcoin in cumulative volume with over $1 trillion traded on the platform. Approximately 15% of global XRP trading volume now originates from South Korean investors, highlighting the country’s pivotal role in the token’s market dynamics.
The sustained interest in XRP stems primarily from two factors. Firstly, many Korean retail investors, particularly in their 40s and 50s, are reallocating funds from traditional domestic and U.S. equity markets into cryptocurrencies, with XRP as their favored choice according to market analysts. Secondly, significant “whale” movements suggest accumulation rather than liquidations. Large holders have been moving considerable sums of XRP off exchanges, often interpreted as storing coins in cold wallets instead of selling on the market. In one instance, a single transaction withdrew 6.3 million XRP from Upbit, while overall net outflows reached around $30 million in the past week and $147 million over the last month.
This dual dynamic reveals two distinct buyer groups: active Korean retail traders fueling high-volume transactions and patient large investors quietly accumulating XRP long-term. However, this momentum is largely localized. On a global scale, XRP’s trading volume fell by 31% in the same recent 24-hour window, weakening the notion of uniform worldwide strength. Spot XRP ETFs, another major purchase channel, faced their first net outflow in weeks, reflecting a cooling interest among institutional investors despite previously strong inflows.
From a price perspective, XRP is recovering from recent lows, having rebounded approximately 13% from a bottom near $1.01 to trade around $1.14. The token holds a market capitalization near $77 billion, placing it sixth among cryptocurrencies worldwide. Key technical levels include support at $1.10 and resistance zones near $1.14 to $1.15, with a more formidable barrier around $1.18 to $1.20, marking the upper boundary of a year-long downtrend. A drop below $1 would risk negating the current recovery.
Historically, July has served as XRP’s strongest month, typically generating around a 10% price increase. This seasonal trend adds a potential tailwind for those tracking XRP’s performance ahead, especially as price indicators approach oversold territory, which sometimes signals an impending reversal. Overall, XRP’s standout performance on Upbit highlights South Korea’s unique influence on the token’s trading landscape, driven by local retail enthusiasm and strategic accumulation by major holders.