XRP News: Dominance Shifts: Upbit Holds Twice as Much XRP as Binance As Demand Surges in South Korea

Market analyst Kate Young Ju shared CryptoQuant data revealing this major shift in XRP reserves, highlighting the increasing dominance of Upbit in XRP trading. The surge in South Korean interest has propelled Upbit’s XRP holdings past 5.9 billion tokens, compared to Binance’s 2.9 billion.

According to CoinMarketCap, Upbit now accounts for 14.37% of global XRP trading volume, surpassing Binance’s 12%. Other major platforms, including Coinbase, Bybit, and Bitget, trail behind. The data underscores a growing trend of South Korean investors driving demand for Ripple XRP news, leading to increased market volatility and price fluctuations.

One of the key reasons for this rapid accumulation is the ‘Kimchi Premium’—when cryptocurrency prices in South Korea are trading at a premium to the rest of the world. Due to strict capital controls, investors pay a premium for digital currencies like XRP, impacting the Ripple currency price.

Upbit now leads all exchanges in XRP holdings, doubling Binance’s reserves. Source: Kate The Alt via X

Google Trends information indicates that XRP search interest hit a five-year high in South Korea, following the growing interest in Ripple crypto assets. More than 30% of South Korea’s population has invested in digital currencies, making the growing popularity of XRP an indication of market trends.

Recent speculation regarding United States President Donald Trump’s proposed national crypto stockpile that will allegedly include XRP has added to the bullish sentiment. The news led to a fleeting rally in the XRP price, although the upside did not last long due to broader market corrections.

Elon Musk was seated in the front row when President Trump signed the executive order establishing a Strategic Bitcoin Reserve. Source: CryptoGoos via X

In addition, XRP whales have been very active, accumulating over 300 million XRP tokens within this week alone. Upbit’s transfer of 30 million XRP further contributed to rumors and volatility in the Ripple market. The heightened activity shows that institutional players along with retail traders are positioning themselves for potential long-term gains in Ripple cryptocurrency.

Despite growing optimism, XRP continues to be plagued by regulatory uncertainty. The XRP vs. United States Securities and Exchange Commission (SEC) lawsuit remains a key market sentiment driver. Investors are holding their breath for any SEC Ripple litigation update, with a positive ruling capable of triggering a huge price explosion.

The SEC may soon drop its lawsuit against Ripple (XRP), potentially triggering a sharp rise in XRP’s value. Source: Amelia via X

Several legal analysts are forecasting that the SEC will dismiss the suit against Ripple as soon as next April, and this would provide the opening for wider adoption and institutional investment. Should that happen, it will lend weight to the case for an XRP ETF and bolster confidence in Ripple USD pairs.

At the time of writing, the XRP USD is at $2.50, and market analysts are debating what to do next. Some opine that if South Korean investors continue their aggressive buying wave, XRP will experience more upside. Market volatility still remains, with the price of XRP varying according to global regulatory changes and sentiment in the market.

Ripple (XRP) was trading at around $2.50. Down 4.74% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

Experts feel that a resolution to the SEC lawsuit may provide the spark for a major breakout. Meanwhile, the partnerships, including potential deals with institutions like Ripple Bank of America, keep long-term growth prospects for the Ripple ledger system alive.

Upbit’s rise as the leading XRP exchange highlights South Korea’s growing influence in the Ripple market. With increasing interest, whale accumulation, and potential regulatory clarity on the horizon, XRP remains a focal point for traders worldwide. As the Ripple price USD fluctuates, investors will closely watch for further developments in the XRP SEC case, Trump’s crypto reserve plans, and broader market trends.