XRP News Today: XRP Trading Volume Surges 18% on Upbit Amid South Korea Demand

XRP has established a significant presence in South Korea, with a daily trading volume of $95 million on the Upbit exchange. This volume highlights XRP’s strategic role and growing dominance in the region’s crypto ecosystem. The transfer of 30 million XRP, valued at $95.5 million, from Upbit to an unknown wallet suggests either large investors moving tokens off-exchange for long-term holding or routine wallet management by Upbit itself. Upbit now holds approximately twice the XRP reserves of Binance and accounts for roughly 14–17% of global XRP volume. Recent spikes saw XRP/KRW trades making up nearly 18% of Upbit’s total volume.

The “Kimchi Premium” phenomenon, where South Korean crypto often trades at a premium due to capital controls and local demand shortages, makes XRP particularly attractive in the region. Additionally, XRP’s real-world utility in remittances is filling the gap left by slow and costly international transfers. South Korea’s domestic apps, such as Toss and KakaoPay, are efficient, but XRP and Ripple’s cross-border solutions like Coinone’s Cross are providing faster and more cost-effective alternatives. Many Korean traders view XRP as an alternative to traditional finance, especially during political or banking stress. A recent analysis noted XRP’s trading volume surpassed Bitcoin by threefold during domestic turmoil.

As XRP continues to dominate in South Korea, the fourth-largest cryptocurrency based on market capitalization is gearing up for a bullish run to $2.40. Market analyst Lingrid pointed out that XRP has rebounded off the support line after a sharp dip, reclaiming key territory above $2.10 and pressing against a descending trendline. Price action is tightening within a symmetrical triangle as bulls test breakout pressure. Sustained movement above $2.20 may confirm an upside breakout toward the $2.35–$2.40 region. At the time of writing, XRP was trading at $2.18, illustrating that it’s just a stone’s throw away from the major resistance zone of $2.20.

XRP is witnessing a sharp surge in adoption, as evidenced by the growing number of wallets now surpassing 7.1 million. This milestone underscores increasing investor confidence, growing real-world utility, and a shift in institutional sentiment toward Ripple’s digital asset. A key driver behind this rapid adoption is XRP’s speed and cost-efficiency. With transaction times as low as 3-5 seconds and minimal fees, XRP has positioned itself as an ideal asset for cross-border payments. Financial institutions and remittance services globally are turning to RippleNet, Ripple’s payment network, which leverages XRP for on-demand liquidity (ODL). This infrastructure enables near-instant settlement without the need for pre-funded accounts, drastically reducing capital requirements for banks.

Legal clarity in the United States has further accelerated XRP adoption. After a prolonged legal battle, a U.S. court ruled in 2023 that XRP is not a security when sold on exchanges. This emerged as a landmark decision that unlocked new institutional partnerships and retail investor confidence. Exchanges that had previously delisted XRP began relisting it, fueling liquidity and market activity. Additionally, XRP’s integration into mainstream financial services and its role in decentralized finance (DeFi) have expanded its utility. Developers are actively building smart contracts and tokenized asset systems on the XRP Ledger using Hooks and sidechains. These innovations are attracting a new wave of builders and users to the ecosystem.

The increase in XRP wallets also reflects broader global interest, particularly in regions where trading volume has spiked on platforms like Upbit. Retail interest is surging, with investors increasingly viewing XRP as a long-term digital asset rather than a speculative trade. Moreover, Ripple’s ongoing partnerships with central banks to explore CBDC (Central Bank Digital Currency) issuance using the XRP Ledger have helped legitimize its use case on a global scale. This blend of institutional use, technological advancement, and regulatory progress is creating a perfect storm for adoption. As the crypto landscape matures, XRP stands out for its utility-driven growth. The jump to over 7.1 million wallets is not just a number, it’s a reflection of a network gaining real traction across finance, remittances, and DeFi. With legal hurdles mostly behind it and global demand rising, XRP’s adoption curve may just be getting started.