XRP News Today: South Korea Altcoins Surge on Upbit and Bithumb Listings XRP Hits $3.03 After Legal Hopes

South Korea’s cryptocurrency market has become a focal point for altcoin activity as two of the country’s largest exchanges, Upbit and Bithumb, announced the listing of a new altcoin called Succinct (PROVE) on Monday, triggering a significant price surge [1]. The token, which debuted on Ethereum-based trading pairs, saw immediate demand following its launch, with Upbit supporting KRW, BTC, and USDT trading pairs and Bithumb offering KRW pairs [1]. The listing marked a major event in the altcoin calendar, as traders and investors flocked to the asset shortly after its availability.

The price of PROVE spiked dramatically in response to the listing, with no immediate signs of a pullback. While the exchanges have not provided specific volume figures, the rapid price action underscores strong initial interest and liquidity [1]. The token’s availability on multiple stablecoin and BTC pairs further enhanced its appeal, allowing for both fiat entry and cross-chain exposure.

Notably, this event occurred alongside broader market enthusiasm for XRP, which also saw a sharp rise in South Korea. XRP hit a high of $3.03, marking its highest price since 2018 and recording a 6% increase over the past 24 hours [1]. The token’s surge coincided with heavy trading volumes on local exchanges, particularly on Korea’s largest platform, where it generated over $500 million in 24-hour volume [1]. XRP’s breakout above key resistance levels reinforced bullish sentiment, with traders interpreting the move as a continuation signal.

The momentum in altcoins was further supported by positive on-chain metrics, including a net inflow of $7.91 million in the past day, indicating growing participation from both retail and institutional actors [1]. The broader altcoin space also showed strength, with tokens like Solana and Toncoin seeing gains, contributing to a favorable environment for XRP and PROVE alike.

A critical catalyst for XRP’s rally was the anticipated resolution of the ongoing legal case between Ripple and the U.S. Securities and Exchange Commission (SEC). Reports indicated that Ripple had reached a tentative agreement to pay a $125 million fine and drop its appeal, with finalization expected by August 15 [1]. The removal of this legal uncertainty is seen as a major factor in attracting institutional adoption and reducing a long-standing overhang on XRP’s price.

While some analysts have pointed to potential short-term risks—such as the “death cross” in the MVRV ratio—others remain optimistic. EGRAG Crypto, for instance, has projected a parabolic move for XRP over the next five months, with speculative price targets as high as $48.90 [1]. However, such forecasts remain highly uncertain and should not be interpreted as indicative of immediate price movements.

The surge in XRP and the debut of PROVE highlight the increasing influence of South Korea in global cryptocurrency markets. As the region continues to drive liquidity and innovation, the performance of these assets will be closely watched by global investors seeking exposure to emerging trends in the altcoin space.

Source: [1] XRP price today: Token hits $3 on Korean surge, legal ...(https://www.fingerlakes1.com/2025/08/04/xrp-price-today-august-4-2025/)