EddieJayonCrypto
6 Mar 25
South Korean crypto exchange Upbit has emerged as the leading force in the Ripple market, holding double the amount of XRP as Binance and accounting for over 14% of its global trading volume. The shift reflects the cryptocurrency's growing prominence among investors in South Korea. Upbit has surpass...
South Korean crypto exchange Upbit has emerged as the leading force in the Ripple market, holding double the amount of XRP as Binance and accounting for over 14% of its global trading volume. The shift reflects the cryptocurrency's growing prominence among investors in South Korea. Upbit has surpassed Binance as the biggest holder of XRP and leads in XRP trading volume. Recent market turbulence and U.S. President Donald Trump's announcement of a strategic national crypto reserve have impacted XRP's performance. The broader market awaits clarity on the reserve's framework, which could significantly impact investor sentiment. At the time of writing, XRP was up almost 5% in the last 24 hours and 8.9% across seven days, outperforming the wider crypto market. According to data from CryptoQuant, Upbit has surpassed Binance as the biggest holder of XRP, with “twice as much” of the token as the world’s largest crypto exchange. Additionally, the South Korean exchange also leads in XRP trading volume, responsible for over 14% of the asset’s total trading turnover. Amid recent market volatility, XRP surged nearly 50% in a single day, hitting the $3 level before retreating to $2.70. This surge was triggered by President Donald Trump’s announcement of a national crypto reserve that could include XRP, among other major altcoins. Whales have shown strong confidence in XRP's future, acquiring over 270 million XRP in 48 hours. The broader market is awaiting clarity on the strategic reserve’s framework, which many feel could significantly impact investor sentiment, especially with a White House Crypto Summit set for Friday this week. At the time of writing, XRP was up almost 5% in the last 24 hours and 8.9% across seven days, outperforming the wider crypto market which is also up 4.5%.