XRP News Today: South Korea Drives 22.39% of Global XRP Trading Volume

South Korea has emerged as a significant driver of global XRP trading volume, contributing approximately 22.39% within a 24-hour period. The XRP-KRW trading pair alone accounted for over 484 million XRP, underscoring the robust interest from South Korea's cryptocurrency market. This surge in trading volume is seen as a strong indicator of continued enthusiasm for XRP in one of Asia's most active crypto markets.

Analysts have noted that the Korean Won (KRW) has become the second-largest fiat currency in XRP trading, following Tether (USDT). This shift highlights the growing influence of South Korea in the global cryptocurrency landscape. The 24-hour global trading volume for XRP reached 2.1641 billion XRP, with Tether's stablecoin accounting for 34.96% or 756.66 million XRP of the total trading volume. Other fiat and crypto currencies, such as USD, EUR, and BTC, contributed smaller shares to the overall trading volume.

This significant contribution from South Korea underscores the country's importance in global cryptocurrency markets. The nation has been a leading player in digital asset trading, driven by strong retail participation and an active exchange ecosystem. XRP has consistently been among the most traded assets in the region, sometimes ranking above Bitcoin and Ethereum. Analysts view this trend as a sign of strong global interest in XRP, fueled by the influence of one of the most active crypto markets in the world.

The Upbit exchange has played a pivotal role in this volume surge, emerging as the global leader in XRP spot trading. Upbit accounted for nearly half of the total trading volume within a one-hour window, with XRP/KRW trading on the exchange reaching $2.08 billion in volume over the past 24 hours. This represents 324% of the global XRP volume during that period. In contrast, Binance recorded $1.79 billion in XRP/USDT trades, with other exchanges trailing behind.

Upbit also recorded a net inflow of $571 million over the past day, suggesting a surge in deposits likely aimed at profit-taking after recent price gains. Binance saw a net inflow of $21 million. As of the latest data, XRP is trading at a four-month high of $2.77, after briefly hitting $2.96 earlier in the day. This price rally has reignited trading momentum for XRP, with South Korea playing a crucial role in driving this market activity.