Ripple’s XRP Trading Volume Soars in South Korea

The trading volume of Ripple‘s XRP against the South Korean won, reaching $2.5 billion in the past 24 hours on the South Korean cryptocurrency exchange UpBit, is a sign of speculative frenzy, reaching its highest level among its peers. South Korean Investors Flock to XRP This figure accounted for over 50% of UpBit’s total trading volume during this period. Data shows that the market depth was approximately $5 million during the Asian trading hours, indicating that XRP is supported by high liquidity. Historical data reveals that this liquidity is generally below $1 million. The significant increase in XRP volume indicates an abnormal level, considering that the majority of trading volume on UpBit comes from Bitcoin (BTC) and Ethereum (ETH) trading. Within the past 24 hours, the top ten South Korean cryptocurrency exchanges contributed a significant portion of the approximately $15 billion volume achieved in global cryptocurrency exchanges through the execution […] The post Ripple’s XRP Trading Volume Soars in South Korea appeared first on COINTURK NEWS.