XRP’s Surge to $3 Fueled by South Korean Trading Frenzy

In Brief:

Upbit drove 70% of XRP's $2.60 to $3.00 rally with $500M in 24h volume.

South Korea’s retail traders now dominate XRP’s price momentum.
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XRP's recent rally toward the $3 level has been largely driven by South Korean retail traders, with Upbit emerging as the central player. According to crypto analyst Dom, net buy pressure of 45 million XRP fueled the jump from $2.60 to $3.00—with 70% of that volume coming from Upbit alone.

While U.S.-based platforms like Coinbase and Kraken contributed modestly, Binance surprisingly recorded negative net volume during the rally. Data from CoinGecko confirms that XRP trading on Upbit topped $500 million in just 24 hours, surpassing even Bitcoin and Ethereum activity on the exchange.

South Korea’s crypto enthusiasm is well documented. Over 7 million citizens—roughly 15% of the population—are registered on local exchanges, often favoring altcoins like XRP over Bitcoin.

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This retail-led momentum is not new to XRP, but its sustainability remains debated. Some view it as a temporary spike, while others believe it reflects a maturing and regionally diverse crypto market.

The excitement also coincides with broader developments in the XRP ecosystem, including the expansion of the XRP Ledger, USDC integration, and renewed speculation around a potential XRP spot ETF. Ripple's legal resolution with the SEC may also serve as a catalyst, with CEO Brad Garlinghouse confirming the company will drop its cross-appeal.

As XRP continues to rally, all eyes remain on South Korea’s traders—who once again may be defining the token’s trajectory.

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