- Currently, the trading volume of XRP in Upbit is four times higher than Bitcoin. This is due to the effect of Korea retail investors.
- The XRP is expected to trade at $8 future by analysts on the back of localized buying interest and favorable market environment in South Korea.
- A curious fact is that Korea’s crypto market inclines towards altcoins, such as XRP rather than Bitcoin, a more distinctive trading pattern.
It is important to note that XRP is experiencing an increase in trading volumes in key exchanges within the South Korea market surpassing those of BTC. South Korean retail investors have Increased their participation in buying XRP pushing the trading volume of this cryptocurrency four times that of Bitcoin on Upbit, a South Korean exchange. The trading volume for the XRP/ KRW that is traded in Upbit has been known to have the highest trading volume in the global spot exchange in the last 24 hours inclusive of Binance.
Retail Interest Drives XRP Momentum
The extraordinary surge in trading volume of XRP looks to have been influenced significantly by South Korean retail investors. Experts attribute this to both speculative buying and the recent increase in the price of the asset. XRP has gained approximately 24% in value over the past week, sparking renewed optimism among traders.
The South Korean crypto market has been known for high involvement from individual traders who prefer certain tokens known to have high volatility within the short term. XRP’s affordability compared to Bitcoin makes it an attractive choice for investors looking for exposure to crypto without requiring substantial capital.
Potential Price Projections and Market Outlook
During such active trading, professional analysts have given their prognoses about further price growth of XRP, according to which this cryptocurrency can reach $8 and even more, provided that other favorable factors within a stock market will persist.On the South Korean exchange Upbit, the daily trading volume for the XRP/KRW pair exceeded $ billion earlier today,as reported by Coinmarket cap.
The same principles apply to the peculiarities of trading in South Korea that has a substantially larger engagement share in using XRP. Even in this scenario, South Korea has a clear inclination to support localized favorites even though Bitcoin is the prevailing cryptocurrency in most markets around the world.
Tokens like XRP trade much more often than leading assets, which underlines the peculiarities of this area.As XRP continues to gain more attention it will be interesting to note its performance in the subsequent weeks as investors seek to learn from the trend.
