XRP experienced a significant surge in volume on the Upbit exchange, with $1.94 billion traded in just an hour, a stark contrast to the next highest volume of $90 million on Binance.
Market experts noted a $720 million net inflow into Upbit, sparking discussions among XRP community members and analysts like Chad Steingraber and XForceGlobal.
Net inflows on Upbit peaked at $1.58 billion, showing increased activity in XRP trading, although the figures eventually cooled down but remained notably high.
The netflow trend on Upbit raised speculations on the potential impact on XRP price, with observations of multiplier effects impacting the token's market cap, despite not always directly translating into market cap growth.