XRP's spot trading volume on South Korea's Upbit exchange has seen a significant surge in the past 24 hours, reaching $269.22 million, with $161.62 million traded in a single hour.
The spike in XRP trading activity on Upbit stands out compared to global exchanges like Binance, where XRP net flows are negative, unlike the inflows into Upbit.
South Korean crypto traders are heavily driving XRP activity, as the country demonstrates deep involvement in the cryptocurrency market, with XRP often surpassing Bitcoin and Ethereum in trading volume on local exchanges like Upbit.
The intense trading of XRP on Upbit by South Korean investors is seen as a significant factor influencing XRP's price behavior, with the cryptocurrency currently trading at $2.33, up by 2.3% in the past 24 hours.