The SEC-Ripple case is finally over. Ripple was fined just $125 million for institutional sales, and crypto exchange transactions were deemed legal.
Following Ripple’s victory over the SEC, the XRP price saw a huge jump, while its trading volume also increased.
Accordingly, while XRP transaction volume increased significantly in general, there was an unprecedented increase in XRP transaction volume on Upbit, South Korea's largest exchange.
XRP Reached Its Peak in South Korea!
This significant volume increase in XRP underscores the increased interest and trading activity surrounding XRP following the recent verdict in the case.
XRP rose by more than 20% in a short time after the decision was announced. During this price increase, the trading volume on Upbit rose sharply and reached approximately 125 million KRW within a few hours.
On Upbit, XRP's 24-hour trading volume reached $725 million (14% of global XRP volume), doubling Bitcoin's $322 million trading volume on Upbit.
Upbit's XRP trading volume also surpassed the $676 million XRP volume of Binance, the world's largest cryptocurrency exchange.
Against this data, XRP's trading volume accounts for 30.04% of the total volume on Upbit, making XRP the most actively traded cryptocurrency on Upbit.
XRP ranks first in terms of transaction volume on Upbit, followed by Bitcoin (BTC), Solana (SOL), Ethereum (ETH), Gravity (G) and Tether (USDT).
In Bithumb and Coinone, South Korea's largest exchanges after Upbit, the transaction volumes of XRP are $173 million and $17.4 million, respectively. While XRP ranks first in terms of transaction volume on Bithumb, it ranks second after Tether on Coinone.
XRP continues to trade at $0.616, up 19.3% in the last 24 hours.
*This is not investment advice.
