In response to CoinMarketCap, XRP has taken the highest spot when it comes to buying and selling quantity on South Korea’s two main exchanges, Upbit and Bithumb. Within the final 24 hours, XRP’s mixed buying and selling quantity on the 2 platforms totaled practically $348 million. The determine was achieved in pairs towards the South Korean received. In consequence, the quantity of XRP traded on Upbit exceeded that on Binance, the most important cryptocurrency trade, by practically 100 million tokens.

The anomaly was additionally seen by members of the XRP group, when following it the worth of the cryptocurrency itself rose 9% at one level yesterday amid a reddened crypto market.

XRP and South Korea

Clearly, each the rise within the XRP worth and buying and selling quantity had been the results of elevated curiosity from Korean buyers. Nonetheless, the precise causes for this conduct can solely be guessed.

In response to standard perception, Koreans noticed a chance to revenue on XRP after the worth corrected from Tuesday’s 26% rise. The passion of Korean retail buyers, which turned obvious after the Aptos (APT) story, was sufficient for XRP to outperform the remainder of the crypto market.

It’s tough to see how lengthy this anomaly will final. Once more, based mostly on APT worth motion in January, the Korean bids may very well be the start of the tip of the mini-rally in XRP. On the one hand, a large-scale worth correction may happen at any second, however however, XRP may proceed its outperformance for a while to return.