XRP Price Defies Bearish Market— Analyst Says ‘South Korean Demand Behind Success’

XRP has shown impressive performance in the past few weeks, despite facing several issues. Analysts have linked this success to XRP’s massive demand in South Korea. The South Korean market has expressed fervent support for XRP in recent times. While other altcoins struggle, XRP has continued to show positive movements on the chart on South Korean exchanges.

South Korea: A Driving Force for the XRP Price

According to famous crypto analyst XForceGlobal, South Korea stands as a key contributor to the XRP price action. The crypto market in South Korea is one of the most active ones and has expressed a preference for XRP over Bitcoin. Given that, XRP has consistently outperformed Bitcoin in terms of trading value. Even during ‘down’ days, XRP is a favorite among South Korean investors. This highlights the strong adoption and demand within the region.

The reasons behind this phenomenon are several. South Korea’s crypto market is also isolated due to its regulatory environment. This has bolstered XRP adoption, with millions of citizens owning the altcoin. The South Korean XRP adoption accounts for around 20% of XRP’s market cap. Additionally, the lack of proper cross-border payment solutions in the country has made cryptocurrencies like XRP essential for transactions. This has increased its utility and price stability. On the contrary, regulatory uncertainties in the United States have hampered XRP growth. While the world debates cryptocurrency regulations, South Korea’s strong community and active retail participation have helped sustain the XRP price. 

Upbit Hold 6 Billion XRP, Drives Growth in South Korea

The largest crypto exchange in South Korea, Upbit, has contributed to XRP’s success. The platform holds around 6 billion XRP, about 5% of the total supply. Analysts have also suggested that this combination of retail demand and institutional reserves could strengthen South Korea’s influence on XRP’s global appeal. As XRP continues to grow in South Korea, its future remains promising. With continued adoption within the Korean market, XRP could maintain its upward momentum despite external pressures. Given that, let’s quickly look at XRP’s performance on the charts and form an XRP price prediction for the coming times. 

XRP Price Analysis: XRP Holds Stable Despite Market Volatility 

XRP began trading yesterday in a narrow trading range, looking for a breakout. As the EMAs coincided, XRP continued to fluctuate until 7:00 AM, when it was able to break out of the trading range. The $2.08 resistance level was broken as XRP faced rejection at $2.10.  The RSI ventured into the overbought region, a trend reversal was on the cards. An extended downtrend followed, as XRP fell below the $2.03 support. Now oversold, XRP started to ascend confidently and touched the $2.08 mark before facing some correction. 

Chart 1: published on TradingView, April 5, 2025

The EMAs interacted rapidly, XRP spiked upward at 13:45, going to $2.16, facing strict correction. An hour later, XRP spiked again, this time finding strong resistance at $2.15. The support lines seemed to be climbing, as a bullish triangle seemed to form. But the $2.15 level offered strict resistance, as XRP consolidated near it. Another trading range formed with a $2.11 support level.

XRP Price Prediction: Can XRP Have An Upward Breakout 

Despite the heavy market volatility, xRP has managed to stay above $2, while other mainstream coins are facing strong downturns. The last 24 hours tell a similar story with XRP ascending and holding on to key levels despite bearish pressures. Given that looks poised for an upward breakout during the day. If the upward breakout does occur, XRP will be seen trading around the $2.20 range.