XRP retains its position as the most traded cryptocurrency in South Korea, outpacing BTC and ETH with notable trading volume increases.
XRP has continued to dominate the South Korean crypto market, as data suggests investors in the country bought and sold the asset more than any other crypto in the last 24 hours. This is an unmatched demonstration of the high level of confidence among Korean investors.
Specifically, XRP has risen to become the most traded cryptocurrency on major Korean exchanges, including Bithumb, Upbit, and Coinone. The digital asset has claimed its position while outranking (BTC) and Ether (ETH), according to data from the popular market tracker, CoinMarketCap.
Market data from the past 24 hours indicate that XRP trading volumes on these exchanges have experienced notable increases, affirming the growing popularity of XRP in South Korea.
Upbit, one of the leading exchanges in the country, reported a staggering trading volume of $69,398,196 for XRP, representing 10.87% of total volume on the exchange. Similarly, Bithumb, one of South Korea’s premier crypto exchanges, has witnessed a trading volume of $26,419,315 for XRP, which marks a market share of 22.20%.
Coinone, another reputable Korean exchange, recorded a trading volume of $6,437,311 for XRP. This value represents 22.73% of all trading volume on the exchange.
The rise of XRP as the most traded asset on top Korean exchanges underscores its popularity in the region and highlights the robust demand for XRP among Korean traders. This trading activity surge significantly impacted XRP’s global crypto market performance. Recall that XRP’s March rally was triggered by massive demand from Korean retail investors.
Moreover, while most crypto assets traded in the red over the past week, XRP alone, among the top ten, saw a positive increase. CoinMarketCap data shows that XRP saw a 7.43% cumulative growth in the last seven days, putting its current price at $0.4603.
XRP to Reach $27?
Recently, a prominent crypto analyst shared an intriguing analysis regarding XRP’s potential surge to $27, drawing on information provided by Ripple’s Chief technology officer.
Using the all-time high (ATH) value of $2.8 as a reference point, the analyst employed Fibonacci levels on a monthly candle chart to identify crucial support and resistance levels. He predicts XRP may reach the $2-3 range, filling a gap in the Mega Ascending White Triangle pattern, with an ultimate target of $27.
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