In recent months, XRP has shown impressive market success, particularly in South Korea, where it has outpaced Bitcoin and Dogecoin in popularity.
XRP Takes Center Stage
Jaime Rogozinski, the founder of WallStreetBets, noted XRP's growing influence in the South Korean market, confidently outshining well-known cryptocurrencies like Bitcoin and Dogecoin. This strengthens its position in the East Asian market.
Trading Volumes Soar
According to CoinMarketCap data, XRP's trading volumes on South Korea's leading exchange, Upbit, surpass those of Bitcoin. Over the last 24 hours, XRP recorded over $606 million in volume, while Bitcoin had $246 million. Dogecoin also followed with $210 million. This trend is mirrored on other major exchanges like Bithumb, Coinone, and Korbit, indicating significant interest in XRP among South Korean retail investors.
Signs of Recovery
This surge in trading activity aligns with XRP's recent price rebound. Over the past week, XRP has emerged as a leader among the top ten cryptocurrencies by market capitalization, gaining 24% from recent lows to highs near $2.5. Analysts, including the well-known commentator Dark Defender, suggest XRP's prolonged correction might be over, forecasting further growth targets.
The rise of XRP in South Korea and its high trading volumes indicate a potential resurgence. The growing interest from retail investors could lead to further success for this cryptocurrency.