XRP Leads Altcoin Market in South Korea: Report
• XRP is now the most traded coin in South Korea, according to reports from the South Korean analytical provider firm, Kaiko.
• Data released by WhaleWire indicates that more than $16 billion worth of XRP tokens has been exchanged on different trading platforms in South Korea since Jan 1, 2023.
• The surge in popularity can be attributed to the expected positive outcome in the ongoing SEC vs. Ripple case.
XRP Emerges as Most Popular Altcoin in South Korea
XRP is now the most traded coin in South Korea, according to reports from the South Korean analytical provider firm, Kaiko. Data from another analyst, WhaleWire, have backed up this report indicating that more than $16 billion worth of XRP tokens has exchanged hands on different trading platforms in South Korea since Jan 1, 2023. CoinMarketCap shows that XRP’s trading volume in 24 hours exceeded $500 million on UpBit exchange alone. Nano (XNO) and Dogecoin (DOGE) follow XRP in terms of trading volume with a difference of more than $10 million.
Reasons Behind XRP’s Surge
The surge of popularity for XRP can be attributed to the expected positive outcome in the ongoing SEC vs Ripple case. Additionally, data from Whalestas shows that $26.87 worth of XRP at current market price i.e., 52.6 million XRPs are currently held by 100 largest Binance Smart Chain Whales further fueling its growth and development among investors across all markets globally including South Korean markets where it has become one of top performing cryptocurrencies over past few months according to senior analysts @DessislavaIane2 live on Coindesk TV..
Performance Analysis
The prices of the token have increased by more than 45% since beginning of this year going from low of $0.31 to new high of $0.58 and average price being above 0.$40 however over past seven days when all coins were red, there was 1.4% decrease witnessed across board due to which currently market cap stands at 25656455440 USD while prices went down by 1/1 %in last 24 hour still 22/867 increase was seen over last 30 days with minimum average price being 0.$35 .
Conclusion
It seems likely that if Ripple wins its lawsuit against SEC then we will see bullish rally for this altcoin as it propelled its ascent into becoming one most popular altcoins not just within country but also internationally due strong hold it has established among crypto traders and investors around world who are expecting positivity out this case as well potential for profits which is driving demand for this cryptocurrency even higher .
Takeaways
• XRP is now officially one most popular altcoins not just within country but also internationally as well globally with total turnover surpassing 16 billion USD within nation itself since start 2023 • Prices have increased by 45% during past year with minimum average price being 0$35 • Expectations regarding positive outcome out upcoming SEC vs Ripple lawsuit is leading fuel behind current success and rise popularity amongst traders and investors alike