XRP leads South Korea trading activity, surpassing BTC and ETH

$XRP recorded $1.2 billion in 24-hour trading volume across top exchanges in South Korea, outpacing $BTC and $ETH locally by a wide margin. Bithumb and Upbit activity show that $XRP pulled in $1.2 billion in 24-hour trading volume, with Tether coming in a distant second at $254.35 million.

The Bithumb and Upbit data also showed that Ethereum ranked second with $304.41 million in 24-hour trading volume, while Bitcoin ranked third with nearly $285 million. Local media reports that $XRP rose faster than Bitcoin and $ETH after investors engaged in a panic-dip buying spree following the crypto market crash earlier this month. Data from the country’s largest exchanges reveals that domestic traders consistently prioritize $XRP for its speed and liquidity when the market heats up.

Upbit records over $1T in 2025 $XRP trading volume

Dunamu, the operator of Upbit, previously listed $XRP as the platform’s most-traded asset for 2025, ranking it ahead of Bitcoin and $ETH. Upbit processed over $1 trillion in $XRP trading volume, surpassing Bitcoin and Ethereum to become the country’s most traded crypto asset for that year.

The Upbit team says $XRP occupies a “sweet spot” for South Korean investors because it exhibits sufficient volatility to generate significant short-term returns while maintaining enough liquidity to allow traders to exit positions quickly.

Upbit also reported that $XRP reached 13.26 million users, accounting for up to 22% of daily local trading at times. The exchange’s activity accounts for approximately 70% of South Korea’s crypto market, and $XRP dominates locally in terms of volume, liquidity, and usage.

Meanwhile, Upbit’s review also ranked $XRP/KRW as the top trading pair for much of 2025. CoinGlass data supports this pattern, showing that the $XRP/KRW market on Upbit surged by 156% in a single hour. Other major exchanges, including Gate, Bybit, Coinbase, and OKX, also saw notable spikes in one-hour $XRP trading volumes. The volumes range from $1.4 million to $3.12 million.

On the other hand, Upbit has also disclosed that $XRP’s daily volume in South Korea regularly exceeds $95 million and has repeatedly surpassed Bitcoin’s 24-hour trading volume. The flow is driven by local retail engagement, creating a deep self-reinforcing liquidity pool.

$XRP’s price drops 4.5% in 24 hours following a 38% short rally

$XRP price has dropped by 4.5% to $1.46 over the past 24 hours, a significant turnaround from the brief 38% rally to $1.55 from February 6 to February 15. The performance places the digital asset way ahead of Bitcoin and Ethereum, which gained approximately 15% since February 6. $BTC and $ETH are currently trading at $68,263 and $1,957, respectively. $BTC has lost 3% over the past 24 hours, while $ETH has plummeted 6.4% over the same period.

Meanwhile, CryptoQuant data indicates that Binance $XRP reserves dropped sharply by 192.37 million to ~2.55 billion between February 7 and February 9. The 7% slip marked the lowest level since 2024, although holdings have remained stable since then. $XRP’s Bitcoin-beating rally tracks signs of dip-buying on Binance following the February 6 crash.

On the other hand, market analysts typically associate a drop in exchange balances with investor accumulation. The logic is that investors prefer to take direct custody of tokens rather than keep them on exchanges when intending to hold them long-term. Historical trends reinforce this view.