In accordance with 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 almost $348 million. The determine was achieved in pairs in opposition to the South Korean received. In consequence, the quantity of XRP traded on Upbit exceeded that on Binance, the biggest cryptocurrency alternate, by almost 100 million tokens.

The anomaly was additionally seen by members of the XRP group, when following it the value 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 have been the results of elevated curiosity from Korean buyers. Nonetheless, the precise causes for this conduct can solely be guessed.

In accordance with fashionable perception, Koreans noticed a chance to revenue on XRP after the value corrected from Tuesday’s 26% rise. The passion of Korean retail buyers, which grew to become 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 could possibly be the start of the top 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 come back.