In South Korea, where there is intense interest in altcoins, XRP is once again aiming for a top spot.
According to recent data, XRP trading in South Korea has rapidly increased as investors shifted their focus from stocks to XRP.
According to DL News, individual investors in their 40s and 50s in South Korea are actively buying XRP, leading to a sharp increase in trading volume.
According to CoinGecko data, trading volume has increased significantly on South Korea’s largest exchanges, Upbit and Bithumb. Specifically, 24-hour XRP trading volume increased by 115% on Upbit and 81% on Bithumb.
XRP accounts for 18.06% of Upbit’s total 24-hour trading volume of $2.54 billion, surpassing Bitcoin’s 11.57% and Ethereum’s 9.64%.
Ryan Yoon, a senior analyst at Tiger Research, said this increase stems from this demographic group. Yoon explained that this means these investors are returning to the crypto market following the recent stock market rally and are buying XRP with funds obtained from selling overseas stocks.
According to the analyst, the increase in spot trading volume for XRP indicates that buying pressure is active. If this continues, it could be a catalyst for an uptrend in XRP.
*This is not investment advice.
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