XRP News Today: Upbit Trading Volume Falls 10% as XRP and PROVE Dominate Activity

Upbit Exchange has reported a significant decline in its 24-hour trading volume, with the total dropping to $1.625 billion — a decrease of over 10% compared to previous days. The drop has raised questions about short-term market sentiment and liquidity conditions on the platform, particularly as South Korean exchanges have generally maintained strong trading activity amid broader market fluctuations [1].

Among the most actively traded assets on Upbit, the altcoin Succinct (PROVE) has emerged as a top performer, capturing the highest share of the daily volume at 18.1%. The token was recently listed on Upbit and Bithumb, triggering immediate price momentum and significant trading interest. While no official volume data has been released for PROVE, the token is now available on multiple trading pairs, including KRW, BTC, and USDT, reflecting broad accessibility for both fiat and crypto users [1].

Following PROVE, XRP has also shown robust trading volume on the exchange, reaching $3.03 and achieving its highest price since 2018. The XRP/KRW pair alone accounted for over $500 million in trading volume in the last 24 hours, outpacing Bitcoin in terms of order-book dominance. This performance has been partly attributed to the anticipated resolution of Ripple’s legal dispute with the U.S. Securities and Exchange Commission (SEC), which could culminate in a settlement by August 15, potentially removing a key regulatory overhang on the asset [1].

Ethereum (ETH) has also maintained strong trading activity on Upbit, securing the third position among the most traded assets. While Bitcoin remains a dominant player in the market, the growing traction of altcoins like XRP and PROVE suggests a shift in trading preferences, especially among retail investors seeking exposure to high-momentum assets [1].

The rise of XRP has also been supported by whale activity, with a major investor acquiring 20 million XRP tokens from Upbit, valued at over $60 million. This move highlights continued institutional and large-cap investor interest in the token, especially as the price retested the $3 resistance level and triggered a sharp increase in trading volume [1].

Despite the recent bullish momentum, market analysts have noted potential risks, including the MVRV "death cross" metric, which historically has signaled possible profit-taking or short-term corrections [1]. While EGRAG Crypto has projected a parabolic price move for XRP over the next five months, with speculative targets as high as $48.90, such forecasts should be treated with caution and not as immediate price predictions [1].

The performance of PROVE, XRP, and ETH on Upbit underscores the growing influence of South Korean exchanges in the global crypto market. As local platforms continue to drive liquidity and innovation, they are increasingly shaping global sentiment and trade flows, especially in the altcoin segment [1].

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/)