As the participation of this mainstream altcoin, which is already in the spotlight of the market, continues to rise among Korean traders, XRP is gaining more attention in Korea, surpassing other major crypto assets.

As interest in XRP heats up in the market, the latest on-chain data shows that XRP has surpassed Bitcoin and Ethereum in terms of spot trading volume on South Korea's largest cryptocurrency exchange.

XRP is actively traded in South Korea

Data shows that despite the overall market slowdown on that day, the spot trading volume of XRP in Korean won ( KRW ) on October 15 still reached over 145.6 million US dollars.

In contrast, the spot trading volumes of Bitcoin and Ethereum on that day were $126.5 million and $92.1 million respectively.

This indicates that within this exchange, the spot trading activity attracted by XRP exceeds that of the top two cryptocurrencies ranked by market capitalization, demonstrating the strong demand from Korean traders for XRP.

Further data shows that this trend continued until October 16th. Although the trading volumes of these three cryptocurrencies have all cooled down, XRP still maintains its leading position.

Will South Korea promote the revival of XRP?

Although XRP has extended its lead for a second consecutive day, it seems that interest in this altcoin, which is related to Ripple, remains strong in the South Korean cryptocurrency market.

Market analysts believe that the strong demand for XRP on South Korea's largest cryptocurrency exchange could affect its broader market value and drive up the price of XRP further; as the trading data of Upbit has proven to be a useful indicator for observing local investor activity.