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$XRP commenced the year with a significant uptick amid a broader cryptocurrency market reboot. This price rally comes as $XRP records massive adoption in different regions globally.
Upbit takes lead in global $XRP trading
South Korea’s biggest crypto exchange, Upbit, has recorded over $1.3 billion worth of $XRP volume through the exchange. CoinMarketCap data gives the figure as $1.337 billion in the last 24 hours.
This represents about 12.13% of the entire $XRP volume traded in the last 24 hours. Some analysts see this as a significant development for $XRP. They believe Upbit could drive the new price rally for $XRP, given that the asset is a favorite bet in South Korea.
Their projection lies in how the different crypto exchanges have fared in volume distribution. For instance, Upbit outperformed Binance in terms of transaction volume. Binance’s $XRP/USDT and $XRP/USDC recorded 10.56% and 1.55%, respectively. Their cumulative sum of 12.11% falls slightly less than that of Upbit.
The massive adoption has pushed the $XRP price up a notch to start 2025 on a bullish path. As of this writing, $XRP is changing hands at $2.40, which represents a 12.70% increase, according to data. The combined trading volume has surged by 146.95% to $11 billion as investors flock to the altcoin.
Prospects for prolonged $XRP rally
Analysts say $XRP is rebounding well, and if the asset sustains the momentum, it might retest its December all-time high (ATH) of $2.62. $XRP is just 23 cents away from flipping the price level. In earlier trading, the $XRP price topped $2.43 before witnessing resistance.
However, with the increasing adoption signaled by increasing price and market volume, the asset might also soar in price.
With $XRP kicking off 2025 on a high note by outshining other notable crypto assets like Bitcoin and Ethereum, market observers see prospects. They believe that $XRP might have commenced its second round of projected rallies.