XRP News Today: Upbit Trading Volume Jumps 45% on ETH XRP and PROVE Demand

Upbit, one of Asia’s leading cryptocurrency exchanges, reported a 45% surge in trading volume on August 10, 2025, driven by strong performance in Ethereum (ETH), XRP, and the PROVE token [1]. The spike in activity reflects heightened market engagement following recent regulatory developments in the digital asset space. Analysts and market observers have pointed to improved regulatory clarity as a key driver of renewed investor confidence and liquidity [1].

The increase in trading volume was particularly notable for PROVE, which saw a 31,000% surge in 24-hour trading volume. The token accounted for 18.1% of Upbit’s total trading activity in July 2025, signaling a growing interest in less mainstream blockchain projects [1]. XRP also contributed significantly, with $1.09 billion in trading volume recorded on the exchange alone, reinforcing its role in cross-border payment solutions [1].

Market commentator X Finance Bull highlighted the strategic importance of Upbit in the XRP ecosystem, noting that South Korea’s regulatory stance had a direct impact on the token’s performance. “South Korea just flipped the switch on $XRP,” he stated, underscoring the exchange’s influence on global XRP trading activity [1].

Regulatory changes, including updated guidelines for digital asset platforms and token issuers, have created a more stable environment for traders and investors. These developments are seen as a catalyst for both retail and institutional participation, with the broader market showing signs of stabilization [1]. Upbit has also taken steps to align its compliance protocols with the evolving regulatory landscape, which is expected to enhance user trust and long-term engagement [1].

The surge in trading activity also had implications for liquidity and total value locked (TVL) metrics. A 34% reduction in PROVE token holdings on exchanges suggests a shift toward direct custody, indicating a trend toward long-term investment rather than short-term speculation [1].

While Upbit has not issued an official statement confirming the 45% increase, the data suggests a broader recovery in trading after a period of volatility. The performance of ETH, XRP, and PROVE highlights how regulatory clarity continues to shape investor behavior and market dynamics [1]. As more jurisdictions move toward formalizing digital asset frameworks, exchanges like Upbit are likely to see sustained benefits from a more transparent and structured trading environment [1].

Source: [1] Top XRP News News Today | Binance Square (https://www.binance.com/en/square/news/xrp-news)