XRP has once again taken the top spot on South Korea's largest cryptocurrency exchanges, with trading volumes on Upbit and Bithumb surpassing those of Bitcoin and Ether over the past 24 hours. Data from CoinGecko and CoinDesk shows the XRP/KRW pair on Upbit generated approximately $110.9 million in volume, eclipsing Bitcoin's $88.6 million and Ether's $67 million. On Bithumb, XRP/KRW posted $41 million, trailing only the USDT/KRW pair, and well ahead of both BTC/KRW and ETH/KRW.
The surge comes as South Korea's equity market faces turbulence. The benchmark Kospi index, which had been one of the world's strongest performers this year thanks to Samsung Electronics and SK Hynix, fell sharply on Tuesday after a presidential policy aide suggested that AI-driven corporate profits could be partially redistributed through taxes. That remark rattled investor sentiment, prompting a rotation out of stocks and into more speculative assets.
Korean traders have historically shown a strong affinity for XRP, often pushing it to the top of volume rankings during periods of heightened risk appetite. The current pattern is no exception. While Bitcoin and Ether typically dominate global exchange activity, the concentration of volume in XRP on local platforms indicates that retail investors are focusing on a familiar, high-beta altcoin rather than spreading bets across a broad basket of digital assets.
Price-wise, XRP has remained relatively muted despite the volume spike. It traded near $1.44 to $1.45, up about 3% for the week—better than Bitcoin but trailing the roughly 8% gains seen in BNB and Solana's SOL. The token continues to wrestle with a stubborn resistance zone between $1.49 and $1.50, an area that has repeatedly capped upside attempts since February. However, data from CoinDesk analytics highlights that XRP has been compressing below this ceiling while holding higher lows above the $1.40 support floor. Such technical compression, combined with a sharp rise in volume, often precedes breakout attempts, though it can also signal aggressive selling near resistance.
Analysts warn that concentrated trading in a single altcoin can magnify price swings, especially if broader market sentiment shifts. The close correlation between local equity jitters and crypto flows underscores the need for monitoring regional exchange data for early signals of broader trends.
