Key Highlights
- XRP led trading on Upbit with $74 million in 24-hour volume, ahead of Bitcoin’s $69 million and Ethereum’s $35.9 million.
- CoinGlass data shows $335.68 million worth of XRP left exchanges over the past seven days.
- XRP has recovered 12.87% from its recent low of $1.01 to around $1.14, while its 24-hour trading volume surged 18.87% to about $1.6 billion.
XRP, the native token of Ripple, attracted more trading activity than both Bitcoin and Ethereum on South Korea’s largest cryptocurrency exchange, Upbit, over the past 24 hours.
According to data from CoinMarketCap, Upbit recorded a total trading volume of $553.69 million during the period. XRP accounted for around $74 million, which is up nearly 13% of all trades on the exchange.
Bitcoin ranked second with approximately $69 million in trading volume, representing around 12.42% of all activity on the exchange, while Ethereum followed with $35.9 million, which made up 6.47% of total trading.
This means more traders on the platform bought and sold XRP than the two biggest cryptocurrencies by market value. It also shows that the asset remains one of the most popular digital assets among crypto traders in South Korea.
South Korean traders continue to favor XRP
Interest in XRP has remained strong in South Korea for months. In March, XRP’s trading volume on Upbit increased by 289% within a single hour as market volatility intensified following the escalation of the Iran conflict on Feb. 28. During that period, XRP rose about 26%, climbing from a low of $1.27 to $1.60 by March 17.
During the same period, Binance, the world’s largest crypto exchange, recorded a 128% increase in XRP trading activity, pointing to stronger participation from traders in South Korea.
At the same time, investors’ activity has been supporting demand for the token. In May, an unknown wallet withdrew 6.3 million XRP from Upbit. When investors move coins off exchanges, they are usually transferring them to personal wallets instead of keeping them on trading platforms.
XRP price shows signs of recovery
XRP has also rebounded following last month’s broader cryptocurrency market sell-off.
The token briefly fell to $1.01 before recovering to around $1.14, representing a gain of 12.87% from its recent low. At press time, XRP was up 0.63% over the past 24 hours, while trading volume had increased 18.87% to approximately $1.6 billion.
Meanwhile, data from CoinGlass suggests investors continue moving XRP away from exchanges. Over the last seven days, about $335.68 million worth of XRP was withdrawn from trading platforms. The total amount removed over the past month reached $147.5 million.
The steady movement of XRP into private wallets comes as the cryptocurrency remains the world’s sixth-largest digital asset, with a market capitalization of approximately $70.79 billion. Its latest performance on Upbit further highlights the strong level of trading interest it continues to attract in South Korea.
Also Read: Will XRP Price Recover After Ripple’s MiCA License? On-Chain Data Signals Hope
