8-7-2025 – XRP has surpassed Bitcoin (BTC) and Ethereum (ETH) to become the most traded cryptocurrency on South Korea’s leading exchange, Upbit. The XRP/KRW trading pair recorded a 24-hour trading volume of approximately $1.22 billion, accounting for 27% of Upbit’s total volume, outpacing BTC and ETH. This surge reflects XRP’s growing popularity among South Korean investors, a trend that began gaining traction in 2017 and intensified following Ripple’s partial legal victory against the U.S. Securities and Exchange Commission (SEC) in 2023.
The ruling, which clarified that XRP’s programmatic sales are not securities, has bolstered investor confidence. Additionally, recent developments, such as the launch of the XRP Ledger’s EVM sidechain and speculation around potential XRP ETF approvals, have fueled demand. South Korea, a key market for XRP, continues to drive significant retail trading activity, with Upbit and Bithumb reporting high volumes.
The XRP price rose 0.4% in the last 24 hours to $2.27, with a market cap of $137 billion, ranking it fourth globally, per CoinGecko data. Posts on X highlight Korean investors’ enthusiasm, with some labeling XRP a regional favorite. However, its trading volume dominance on Upbit underscores a unique market dynamic, as Bitcoin remains the most held asset on rival exchange Bithumb.
