South Korea's Upbit exchange now handles more daily XRP trading volume than Coinbase, with $224.22 million in turnover against Coinbase's $173.38 million. A ban on leveraged crypto futures for Korean retail traders and a stagnant local stock market are pushing capital into XRP's spot market, while the token trades in a tight $1.44–$1.50 range after a sharp weekly rally.
South Korean retail traders now drive more XRP liquidity than their U.S. counterparts. Upbit, the country's largest exchange, posted $224.22 million in daily XRP turnover, ahead of Coinbase's $173.38 million. Binance still leads the global spot market with $306.13 million in daily volume, but the scale of Korean demand has become an outsized force in XRP pricing.
XRP overtakes Bitcoin on Upbit
The XRP/KRW pair accounted for 15.57% of all activity on Upbit, pushing the token past both Bitcoin and Tether in liquidity on the exchange. In just one hour, the Korean session generated $23.71 million in net spot volume on Upbit alone. XRP's weekly trading volume on the exchange has approached $1.71 billion. The price itself sits in a $1.44–$1.50 range. Volume has eased after a weekly rally of more than 14–15%.
Regulation and a stagnant KOSPI push capital toward XRP
Retail investors in South Korea are barred from trading leveraged crypto futures, so they turn to the spot market for volatility. XRP's low fees and near-instant settlement have made it a favored tool for that kind of scalping. At the same time, the KOSPI stock index remains stuck in a tight range, prompting middle-aged local investors to shift money out of stock portfolios and into crypto.
In the United States, institutional funds are absorbing liquidity but focusing strictly on regulated Bitcoin and Ethereum products. Ripple's retail brand has historically found a stronger following among Eastern investors than American ones. Despite Ripple's American roots and years of litigation with the SEC in Washington, XRP's price formation is now shaped more by trading activity in Seoul than in New York.
Source: U.Today
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