According to CoinMarketCap data, XRP, the seventh largest cryptocurrency by market cap, is witnessing a significant increase in trading volumes.
XRP Trading Volume Growth
In the last 24 hours, XRP's trading volume on the crypto market came in at $1.83 billion, reflecting a considerable interest from traders.
XRP on South Korean Exchanges
XRP has also secured the top spot in trading volumes in South Korea, showcasing the growing appeal of the cryptocurrency in the region. For instance, on Upbit, the largest cryptocurrency exchange in South Korea in terms of trading volume and customer base, XRP was the most traded asset in the last 24 hours.
Reasons for XRP Growth
South Korean traders are known for their active participation and quick response to market trends, hence XRP's dominance on the market is not surprising. Crypto asset manager Grayscale Investments announced the launch of the Grayscale XRP Trust, which helped boost the price of the seventh-largest digital asset by about 10% in the last trading session. XRP rose to highs of $0.588 before slightly retreating, although the gains were still sustained at $0.563 with a market value of $31.77 billion, according to CoinMarketCap data.
XRP is demonstrating impressive performance in both global and South Korean markets, attracting the attention of investors and traders.
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