XRP News Today: XRP Surges 15% Driven by South Korean Trading Activity

XRP, the cryptocurrency, experienced a significant rally, surging from $2.60 to $3.00 within a short period. This surge was primarily driven by heavy trading activity on Upbit, South Korea's largest cryptocurrency exchange. The exchange accounted for over 70% of the total trading volume, indicating a strong demand from South Korean investors. This influx of buying pressure was largely attributed to international interest, with Upbit outpacing other major exchanges such as Coinbase, Kraken, and Bitstamp.

The rally was fueled by a net spot market buy pressure of 45 million XRP, as noted by a popular analyst. This buying pressure propelled XRP beyond a falling wedge pattern that had capped its price since late February, triggering a breakout that could potentially redefine the altcoin's trajectory. The technical analysis suggests that while much of the initial momentum has been realized, XRP has yet to reach its technical target at the 2.618 Fibonacci extension near $4.365, indicating a further 46% upside potential. However, a rejection at $3, in line with past peaks, could see a healthy correction unfold, with a potential floor at the 1 Fibonacci level at $2.66 as volatility cools.

Despite global participation, Binance traders were net sellers of XRP during the rally. This contrasts with the bullish sentiment seen in the South Korean market. The country has a long-standing appetite for speculative assets, which continues to be reflected in local trading behaviors. Historically, younger investors in South Korea have shown a preference for altcoins, seeking higher returns in short timeframes. The trading volume of altcoins occupies almost 90% on the exchanges in South Korea, a drastic difference from the exchanges that follow Bitcoin and Ethereum in the U.S. XRP is among the most popular altcoins in the market. Such a trading pattern has had major impacts on market trends, mostly when they become volatile.

Momentum signals, such as the weekly RSI remaining below the overbought threshold at 65 and the MACD line surpassing the signal line in a golden cross after over four months of bearish dominance, suggest that the rally may still have room to run. This is often an early indication of a potential long-term trend reversal. The wider market-warming narratives, including the U.S. House expected to vote on major crypto legislation, continue to add merit to XRP as a legitimate contender in this cycle. With its longstanding SEC lawsuit nearing resolution and a spot ETF in the cards, retail interest may soon extend to global institutional investors, potentially forming a new floor backed by serious capital inflows and supporting its long-term growth.

XRP’s sharp rise earlier this week drew global attention, with new data revealing that South Korean traders played a major role in the price movement. The token recorded a net buy pressure of 45 million XRP across spot markets, and South Korea’s largest crypto exchange, Upbit, contributed around 70% of this total. While Upbit led with the highest net volume, U.S.-based Coinbase managed to secure only 11 percent of XRP’s spot trading volume. Meanwhile, Europe’s Bitstamp handled just 6%. Binance, the world’s largest crypto exchange by trading volume, showed a negative net volume delta. This figure indicates more XRP sell orders than buy orders on the platform during the same period.

South Korean traders remain dominant in altcoin markets, contributing over 30 percent of global XRP spot volume. The country has a long-standing appetite for speculative assets, which continues to be reflected in local trading behaviors. Historically, younger investors in South Korea have shown a preference for altcoins, seeking higher returns in short timeframes. The trading volume of altcoins occupies almost 90% on the exchanges in South Korea, a drastic difference from the exchanges that follow Bitcoin and Ethereum in the U.S. XRP is among the most popular altcoins in the market. Such a trading pattern has had major impacts on market trends, mostly when they become volatile.