- XRP leads Upbit trading volume, surpassing Bitcoin and Ethereum in South Korea.
- Technical indicators show XRP nearing a key breakout above $2.20 resistance.
- XRP adoption grows with legal clarity, DeFi use, and CBDC partnerships.
XRP has taken the lead as the most traded cryptocurrency on Upbit, South Korea’s largest exchange, overtaking both Bitcoin and Ethereum in 24-hour trading volume. On July 1, XRP accounted for 14.37% of Upbit’s total trading activity, with a volume exceeding $166 million. This shift shows growing demand for XRP among Korean traders, marking a major change in trading patterns on one of Asia’s key crypto platforms.
Upbit recorded an overall 24-hour trading volume of approximately $1.17 billion, recording a decrease of 1.3% from previous sessions. The platform holds a trust score of 8 out of 10, indicating consistent user confidence in its security and reliability. Within this environment, XRP’s pair against the Korean Won (XRP/KRW) traded at $2.23 with a minimal spread of 0.03%, reflecting strong liquidity and tight market conditions.
Bitcoin followed as the second most traded asset with a volume of about $103.85 million, representing 8.9% of the total. Ethereum also maintained a solid position, priced at $2,471.88. Other tokens such as Pudgy Penguins, Solana, and Sei showed active trading but did not reach XRP’s volume levels. Meanwhile, recently added coins, Sahara AI, Newton Protocol, and Haedal Protocol experienced price declines, compared with the average performance of the major cryptocurrencies.
Technical Indicators Suggest an Imminent XRP Price Breakout
XRP’s current price action points to a possible breakout in the near term. Trading at $2.18, it is approaching a major resistance level at $2.20. Technical analysis shows that XRP’s price is consolidating within a symmetrical triangle pattern, with bullish momentum testing the upper boundary of this formation. Moreover, a continued move above $2.20 could lead to an advance toward the $2.35 to $2.40 price zone, signaling renewed upward momentum.
Additionally, the strengthening market position of XRP is supported by positive legal changes in the United States. In 2023, a U.S. court ruled that XRP is not classified as a security when sold on exchanges. This clarification reversed previous uncertainties and prompted many exchanges to reinstate XRP trading. The decision has helped boost both institutional involvement and retail investor confidence.
Expanding Ecosystem Enhances XRP’s Utility
In addition to trade volume, the community of XRP is expanding, providing more and more practical uses of XRP. XRP wallets. The XRP Ledger also provides the features necessary to implement tokenized assets and smart contracts, such as Hooks and sidechains, which have drawn the interest of developers who are creating decentralized finance (DeFi) applications. The number of XRP wallets in the world has reached more than 7,1 million and this proves its popularity.
Institutional alliance also increases the utility of XRP. Ripple is also working with central banks to test central bank digital currency (CBDCs) issuances on XRPL. Additionally, the fact that large corporations are seriously discussing XRP as a payment option also adds to its increasing importance to the financial sphere.
