XRP was the most traded cryptocurrency in South Korea throughout 2025, according to an annual report from Dunamu, the operator of the country's largest exchange, Upbit. The exchange processed a staggering over $1 trillion in total XRP trading volume for the year, solidifying the asset's dominance over both Bitcoin and Ethereum in the local market.
The XRP/KRW trading pair led daily volume for most of the year, with figures often exceeding $95 million daily. This high level of activity was driven by a combination of retail and institutional engagement. Upbit's user base grew significantly, reaching more than 13 million users by the end of 2025, adding 1.1 million new users.
Analysts attribute XRP's leadership to real-world utility and high liquidity, rather than pure speculation. Practical applications like remittances and on-chain liquidity were cited as key adoption drivers. The report emphasized that this high liquidity allowed for the execution of large orders without significantly impacting market prices.
The regional dominance has broader implications, as high trading volume in South Korea can influence global XRP liquidity and pricing. Despite a reported price of around $2.04 on January 16, 2026—a slight 24-hour decrease—the data underscores a market trend where functional value and adoption drive consistent engagement and long-term relevance.
