XRP Outperforms Bitcoin on Upbit with Significant Trading Volume
- Upbit‘s XRP-KRW pair recorded $350 million (₩481 billion) on Sept. 21, surpassing Bitcoin-KRW’s $225.8 million (₩308 billion).
- XRP experienced a price increase of about 19% on Upbit from $1.28 (₩1,749) on Sept. 15 to $1.52 (₩2,078) by Sept. 21.
- On Aug. 23, XRP’s trading volume was $418 million (₩571 billion), significantly higher than Bitcoin’s $93.1 million (₩127 billion), a lead of approximately four and a half times.
- Despite high trading volumes, no kimchi premium was observed for XRP on Sept. 22, indicating stable pricing compared to global markets.
- Upbit is a major player in South Korea’s crypto market, handling about 70% of the country’s crypto volume through recent years.
XRP has shown strong performance on Upbit, consistently surpassing Bitcoin in trading volume over the past month, with significant activity noted from Korean traders even during price dips.
The absence of a kimchi premium suggests that while Korean traders are actively trading XRP in large volumes, they are not driving up local prices above global levels at this time. (Source)
