XRP Dominates Trading on South Korea’s Upbit With $1.22B Volume, Fueling Bullish Momentum
Key Takeaways:
- XRP/KRW makes up 22% of daily trading on Upbit, South Korea’s top crypto exchange.
- XRP’s trading volume spiked 72%, outperforming other altcoins during a market dip.
- Ripple’s recent application for a U.S. national bank charter signals deeper moves into traditional finance.
Amid a sluggish broader market, XRP has emerged as the most actively traded cryptocurrency on Upbit, South Korea’s largest exchange. The XRP/KRW pair alone accounts for 22% of Upbit’s daily volume—roughly $1.22 billion out of $4.53 billion total—according to CoinGecko.
XRP Surges in Popularity Among South Korean Traders
XRP’s 24-hour trading volume has jumped 72%, defying the broader market’s retracement and gaining nearly 2%. This spike is largely driven by South Korean trading activity, where local investors have historically shown a strong preference for XRP over major tokens like Bitcoin.
Other major Korean exchanges—including Bithumb, Korbit, and Coinone—are also seeing elevated XRP volumes, reinforcing its local dominance. 
Ripple’s Strategic Moves Strengthen Investor Sentiment
Investor confidence in XRP has been boosted by Ripple’s ongoing regulatory and institutional advancements. Notably, Ripple has applied for a national banking license with the U.S. Office of the Comptroller of the Currency (OCC), signaling an ambitious expansion into the traditional financial system.
In addition, Ripple CEO Brad Garlinghouse is set to testify before the U.S. Senate Banking Committee on cryptocurrency legislation—a move seen as further validation of the company’s legitimacy in the eyes of lawmakers.
Bullish Technical Setup Points to Possible XRP Breakout
Adding to the momentum, crypto analyst Ali Charts has highlighted a potential breakout for XRP to $2.60, based on an emerging inverse head-and-shoulders pattern—a common bullish reversal signal. Coingape Markets also reported that an XRP breakout could be imminent, supported by its recent price action and surging demand from Korean markets.
If confirmed, this technical setup could signal the end of XRP’s recent downtrend and usher in a new bullish phase—especially with South Korean traders leading the charge.
