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XRP's Massive Rally Driven Almost Entirely by Just One Exchange

Sun, 13/07/2025 - 10:51
South Korean traders were behind XRP's massive rally once again
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XRP's Massive Rally Driven Almost Entirely by Just One Exchange
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XRP's monstrous rally that took place earlier this week was mostly driven by South Korean traders, according to recent data.

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There was a total of 45 million XRP net buy pressure on spot markets, and Upbit, the leading digital exchange in South Korea, accounted for 70% of it.

For comparison, U.S. giant Coinbase accounts for only a relatively measly 11%. Bitstamp, the leading European exchange, had only a 6% share.

Meanwhile, Binance, the leading cryptocurrency trading platform across the globe, was actually negative on net volume delta, which essentially means that Binance traders were selling more than they were actually buying.

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The recent data is not particularly surprising given that the token's enormous Q4 price rally was also driven by South Korea. Local traders disproportionately accounted for roughly a third of XRP's spot trading volume.

South Korean traders are famously keen on altcoin trading since crypto is seen as a shortcut to quick wealth. It is worth noting that the country has a rather strong culture of speculation that predates crypto, and younger investors are now chasing high-reward opportunities with riskier coins.

Altcoins account for nearly 90% of trading volume on local exchanges, in sharp contrast to U.S.-based trading platforms.

XRP's rally stalls

On Friday, XRP spiked to nearly $3 on the Bitstamp exchange. Since then, however, the rally has seemingly stalled, with the token currently changing hands at $2.79.

As reported by U.Today, some of the leading technical analysts believe that the token still has a lot of growth potential.

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