Summary:
• XRP has become the most traded coin in South Korea, surpassing other significant coins on crypto exchanges.
• Data from analysts shows that more than $16 billion worth of XRP tokens have exchanged hands on different trading platforms in South Korea since Jan 1, 2023.
• XRP’s trading volume in 24 hours exceeded $500 million on the UpBit exchange alone, with a market cap of $25,656,435,440 and prices rising by 22.867% in the last 30 days.
XRP Becomes Top Altcoin in South Korea
XRP is now the most traded coin in South Korea in 2023 according to reports from South Korean analytical provider firm Kaiko.
Data Supporting Rise of XRP
Data from another analyst WhaleWire has backed up the Kaiko report indicating that more than $16 billion worth of XRP tokens have exchanged hands on different trading platforms in South Korea since Jan 1, 2023. CoinMarketCap also shows that XRP’s trading volume in 24 hours exceeded $500 million on the UpBit exchange alone.
Positive Outcome for Ripple vs SEC Case Fueling Price Rally
The rise of XRP can be attributed to the expected positive outcome for Ripple’s ongoing lawsuit against the SEC. The prospects have been reflected in token prices which have increased by more than 45% since beginning of 2023.
Whales Hoarding XRP Tokens
According to Whalestas, $26.87 worth of XRP at its current market price (52.6 million tokens) are held by 100 largest Binance Smart Chain Whales.
]
Current Market Performance
>
XRP currently has a market cap of $25,656,435,440 and prices decreased by 1.1% over the last 24 hours but increased by 22.867% over last 30 days.