Ripple’s XRP token has soared nearly 50% over the past month, fueled by surging trading volumes on South Korea’s largest crypto exchanges, Upbit and Bithumb.
Analysts say the rally underscores the growing influence of Korean investors in the altcoin market.
Several media outlets reported, XRP trading on July 12 alone reached a combined $645 million on Upbit and Bithumb.
That same day, Stellar (XLM) recorded about $460 million in volume, while Bounce (AUCTION) saw approximately $277 million.
On Upbit, XRP’s single-day trading volume hit around $500 million — surpassing the combined volumes of Bitcoin and Ethereum.
Several media outlets reported that buying pressure for XRP rose from roughly $2.60 to $3.00 per token.
XRP was trading as low as $1.93 on Upbit on June 22, but climbed to nearly $2.88 as of July 14. The surge comes amid positive developments for Ripple, including the introduction of the USDC stablecoin on the XRP Ledger and signs of resolution in Ripple Labs’ long-running legal battle with the U.S. Securities and Exchange Commission.
The latest rally highlights how South Korean traders are increasingly shaping price movements in the global altcoin market, particularly for XRP.
