XRP News: Upbit Becomes Biggest Player in XRP Market as South Korean Interest Surges

South Korean cryptocurrency exchange Upbit has emerged as the dominant player in the XRP market, surpassing Binance in trading volume and demonstrating the growing influence of South Korean investors in the crypto space.

Upbit’s Dominance in XRP Trading

Market analyst Kate Young Ju shared data from CryptoQuant showing that Upbit now holds “twice as much” XRP as Binance, the world’s largest cryptocurrency exchange by trading volume. CoinMarketCap data confirms this, showing that Upbit accounts for over 14% of XRP’s global trading volume. In comparison, Binance holds nearly 12%, while Coinbase accounts for 7.27%. Other major platforms like Bybit, Bitget, and Gate.io recorded XRP trading activity of 3.1%, 2.8%, and 2.4%, respectively.

This surge in trading activity aligns with South Korea’s increasing engagement in the crypto market, with an estimated 30% of the population now holding digital assets.

The Trump Factor and Market Volatility

President Donald Trump’s recent announcement of a national crypto reserve, which could include XRP alongside other key altcoins, acted as a catalyst for XRP’s price rally. However, despite the initial bullish momentum, a market sell-off at the beginning of the week wiped out previous gains amid ongoing geopolitical uncertainties.

Whale Activity and Kimchi Premium Influence

XRP whales have also been highly active, acquiring over 300 million XRP this week alone, signaling strong confidence in the asset’s future. Additionally, Upbit recently moved 30 million XRP, triggering price fluctuations and fueling speculation that demand is being influenced by the “Kimchi Premium”—a phenomenon where crypto assets trade at significantly higher prices in South Korea compared to global markets.

Looking Ahead

As South Korean traders continue their aggressive accumulation of XRP, analysts suggest that the token’s volatility could further intensify. The combination of institutional interest, whale accumulation, and geopolitical factors will play a crucial role in determining XRP’s price trajectory in the coming weeks.