XRP Dominates South Korea as 1 in 4 Koreans Trade the Token on Upbit in 2026
- Why Is XRP Outperforming Bitcoin and Ethereum in South Korea?
- How Does XRP’s Adoption in South Korea Compare Globally?
- What’s Driving XRP’s Price Volatility?
- How Are Other Exchanges Performing with XRP?
- What’s Next for XRP?
- FAQs
XRP has emerged as the undisputed leader in South Korea's crypto market, with Upbit reporting that one in four Koreans traded the token in 2026. Outperforming bitcoin and Ethereum, XRP consistently accounted for 22% of daily trading volume, hitting $1 trillion in transactions. The XRP/KRW pair surged 156% in an hour, while institutional demand grew via ETFs. Despite price volatility, XRP's liquidity and adoption in markets like Australia and South Korea highlight its unique appeal. Here’s a deep dive into the data and trends shaping XRP’s dominance.
Why Is XRP Outperforming Bitcoin and Ethereum in South Korea?
Upbit, South Korea’s largest crypto exchange, revealed that XRP dominated trading volumes in 2026, consistently capturing 22% of daily activity—surpassing Bitcoin and Ethereum. The XRP/KRW pair alone saw a staggering 156% hourly spike, with daily volumes reaching $1 trillion. Analysts attribute this to XRP’s liquidity and local retail investor enthusiasm. "Institutional interest is rising, but retail traders are driving this boom," noted a BTCC market analyst. Data from CoinGlass confirms XRP/KRW was the most-traded pair of the year.
How Does XRP’s Adoption in South Korea Compare Globally?
Unlike Western markets, where investors skew younger (20–30 years old), 52% of XRP traders in South Korea are aged 30–40. This demographic shift reflects broader acceptance among older, wealthier investors. Meanwhile, Australia’s BTC Markets also saw XRP overtake Bitcoin in trading volume, despite BTC’s 70% price surge in 2025. "XRP’s utility in cross-border payments resonates in these markets," said a TradingView analyst. The average trade size grew 25%, with pension funds and women increasingly participating.
What’s Driving XRP’s Price Volatility?
XRP hit $3.34 in January 2025 before peaking NEAR $3.66 in July, only to drop 50% to $1.80 by year-end. In 2026, it fluctuated below $2.20, currently trading at $2.02 (down 2% in 24 hours). While ETFs like Bitwise’s XRP fund attracted $4.5 million in a single day, on-chain data shows declining DEX volume and stablecoin use on XRPL. "ETFs are a double-edged sword—they boost liquidity but don’t guarantee real-world adoption," cautioned a CoinMarketCap report.
How Are Other Exchanges Performing with XRP?
Binance’s XRP/USDT pair ROSE 69%, while Coinbase, Gate.io, and BTCC saw hourly volume spikes between $1.4M and $3.12M. Only Bitstamp lagged. Upbit’s 1.1 million new users in 2026 further cemented XRP’s lead. "South Korea’s market opens at 9 AM KST, and XRP often rallies then," observed a Crypto.com trader. The token’s 18% quarterly drop hasn’t deterred institutional inflows, with $1.5 billion invested in XRP ETFs to date.
What’s Next for XRP?
Regulatory clarity in the U.S. and U.K. could reshape XRP’s trajectory, but price swings remain a concern. "The gap between financial hype and real-world utility needs to close," warned an industry insider. As the broader crypto market dipped 1.09% ($3.23T total cap), XRP’s resilience in Asia suggests regional trends may defy global patterns.
FAQs
How much of Upbit’s volume does XRP represent?
XRP accounted for 22% of Upbit’s daily trading volume in 2026, with the XRP/KRW pair leading activity.
Why is XRP popular among older investors in South Korea?
52% of XRP traders are aged 30–40, likely due to its perceived stability and cross-border payment use cases.
What caused XRP’s 156% hourly surge on Upbit?
Market openings and retail frenzy drove the spike, with liquidity peaking during South Korea’s business hours.
